Panasonic to leave plasma TV market?

<p>Panasonic is set to stop making plasma televisions.</p>

Panasonic is set to leave the plasma television market by closing down its Japanese factory.

Nikkei business daily and Reuters both reported that the Amagasaki site will be shut down and sold off in the next year.

But a Panasonic spokesman told the BBC: "Nothing has been decided at this stage."

Panasonic has lost money on its plasma television department in the last few years and if it did leave this market, it would follow in the footsteps of Toshiba, which recently confirmed it will close down two of its three overseas TV manufacturing facilities.

Hitachi and Pioneer have also pulled out of the television sector in the last few years as the market becomes more congested.

Panasonic's share price rose today (October 9th) after reports of the firm stopping manufacture of its plasma televisions spread.

Stocks in the company rose almost four per cent on the start of the day during trading in Berlin.

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