It is a sad time to be a plasma TV fan-- LG tells Reuters it has dropped the plasma towel, and plasma display panel (PDP) production will be over by end-November 2014. Why? LCD has kicked the technology to death, of course.
"We wanted to keep it going as long as we could," the company says. "No matter how much we try to keep it going it's just not a business anymore."
LG was actually one of the pioneers in plasma TVs, as it launched the category together with Samsung back in 1999 with the Xcanvas brand. However an LG regulatory filing reveals the plasma business accounts for just 2.4% of the company's 2013 revenues, and as such the exit announcement is less of a surprise and more of a "scheduled move."