Pioneer Flees Plasma-TV Market
Pioneer is getting out of the plasma-TV business. Sales have been hurt by the worldwide economic slowdown and the rising yen. Pioneer competed in the high end of the market a decision that killed sales during the recession. The company will be discontinuing the product line by March 2010.Pioneer expects to sell about 290 000 plasma TVs in the current fiscal year down from about 460 000 last year. Pioneer has already cut about 10 000 workers and plans to slash another 10 000. Pioneer warns that it may lose as much as $1.4 billion for the fiscal year ...
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