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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Biz, LG, Home Cinema, Rumours, Plasma televisions

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