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.