updated 04:55 pm EDT, Wed August 3, 2011
Latest company to depart from TV market
Hitachi is reportedly planning to shutter its TV manufacturing operations, as part of a strategic refocus on products with higher profits. The company currently operates a single LCD production plant in Japan, however the facility is said to be set to close by the end of the year.
Despite the Hitachi's plans to cease its own TV manufacturing endeavors, the company suggests it will continue to have a presence in the market. After the Japanese facility closes, Hitachi-branded sets are expected to be produced by third parties.
"We will carry on selling TVs, but they will be manufactured by our partners," Hitachi spokesman Atushi Konno told the BBC.
Hitachi is not the only company that appears to be struggling in the TV market. Sony is reportedly considering new partnerships to revive its TV segment, after the company slashed its annual forecast for TV sales. [via TechCrunch]