Pioneer exiting the TV market
Pioneer has confirmed rumors that have flared this week and will be dropping out of the TV business altogether.
The move follows the $1.44 billion USD loss the company has taken in the past year on its LCD and Plasma operations. Two factories will be shut down immediately and the company will completely phase out TVs by the Q1 2010.
Additionally, the company said it will cut costs by cutting 10,000 jobs, mainly in Japan.
In the TV business, Pioneer is best known for its high quality Kuro plasma TVs which enjoy high contrast ratios and color replication. Back in March however, the company said it would halt Plasma production to focus on LCD production.
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