Panasonic reportedly ending plasma TV production by end of March 2014

Even though Panasonic denied it back in April, it appears an earlier rumor of the company halting its plasma TV line might turn out to be true after all. According to Japanese business outlet Nikkei, the electronics firm hopes to get out of the plasma biz much sooner than initially thought. Indeed, Panasonic has reportedly already discontinued the development of new plasma TVs and hopes to stop production by the end of fiscal 2013 which is around March of next year. Sales will then continue until inventory runs out. The paper states that Panasonic has suffered losses exceeding 750 billion yen through fiscal 2012 thanks to the waning product line and is in talks to transfer tenancy rights or sell off its remaining plasma factory.