LG Electronics says to end production of plasma display TVs

Reuters News
|
Posted: Oct 28, 2014 3:48 AM

SEOUL (Reuters) - South Korea's LG Electronics Inc said on Tuesday that it will end the production of plasma display televisions by end-November in order to focus its efforts on liquid crystal display and OLED televisions.

LG Electronics said in a regulatory filing the decision reflects a decline in demand for plasma televisions. The move was widely expected as LCD TVs have become the mainstay product in the global market.

Samsung SDI Co Ltd, sister company of LG's TV rival Samsung Electronics Co Ltd, also said in July that it will shut down its plasma panel production business by Nov. 30 due to the decline in overall demand.

(Reporting by Se Young Lee; Editing by Muralikumar Anantharaman)