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Pioneer reportedly ending TV production, spinning off DVD business

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Say it ain't so (again) Pioneer, Japan's Nikkei is reporting that despite planning a return to profitability by sourcing Panasonic plasma panels, facing a consolidated loss of 100 billion yen ($1.08 billion U.S.) it will end TV development and production entirely. The DVD business will be spun off into a new venture with Sharp as part of a plan to shed several thousand employees over the next year, including a shutdown of its Shizuoka plant, along with already planned closings in the U.S. and Europe. Honestly, we should have seen things were going badly when it let LaserDisc die, but the worsening economy may have proved too tough for the idea that its Kuro and Elite line of products would not be subject to the ups and downs of the economy.

[Via Gearlog, registration required on read link]

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