LG considering pulling out of plasma TV market
Reports see possible withdrawal by the end of the year
27 February 2009 14:13 GMT / By Amy-Mae Elliott
LG is considering pulling out of the plasma television market, it's been revealed.The news, from translated reports from the Far East, suggest that the company has seen such a "slump" that both sales and profits are down.
LG's vice president Lee Gyu-hong, supposedly said in an interview with Kyodo News that LG can't see a future in the market due to deteriorating profitability.
Gyu-hong is quoted as stating: "If we cannot draw growth strategy, we would make the decision to withdraw within the year".
Pioneer recently announced it was to stop offering its "KURO" range of plasma televisions.
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