LG Electronics: Plasma TV sets on way out

SOUTH Korea’s LG Electronics would wind down its plasma television business by the end of November, as a technology long overtaken by liquid-crystal display (LCD) took one step closer to its demise, the firm said yesterday. LG said the decision reflected a decline in demand for plasma TVs, with the business accounting for 2.4 percent of its annual revenue for last year. The exit was widely anticipated as LCD TVs have become the mainstay in global markets. “No matter how much we try to keep it going it’s just not a business anymore,” LG spokesman Ken Hong said. Market research firm NPD DisplaySearch said in July that global plasma TV shipments would fall to 500 000 next year from 5.2 million this year. – Reuters