Panasonic's announcement of the discontinuation of LCD panels means that the company will completely withdraw from the production of plasma, LCD and thin display panels.
The company said it had tried to cope with the "fierce competition and evolution" of the business, but concluded that it would not be feasible to continue the business and decided to stop production.
In recent years, as Korean and Chinese manufacturers continue to improve product quality at a lower cost, Japanese electronics manufacturers have made major structural reforms.
The company's LCD panel production has stalled as foreign manufacturers compete by selling their products at low prices, coupled with falling profit margins.
Panasonic produces everything from rice cookers to Tesla car batteries. In the field of flat panel TV, the company focused on the research and development and production of plasma TV, but lost market share in the field of LCD TV. In 2013, the company stopped production of plasma panels. In 2016, the company stopped producing LCD panels for TVs, after which it focused on LCD panels for automotive and industrial use. Now, the company will completely withdraw from the production of thin display panel.
A Panasonic spokesman said the company's latest decision is unlikely to affect its financial and employment situation. The company will relocate about 500 LCD panel production employees within the group.
TFT-LCD, AMOLED and other new display technologies, including flexible display, whose basic technologies are semiconductor technologies, can be collectively referred to as semiconductor display. Semiconductor display can be defined as the display technology that independently controls each smallest display unit through semiconductor devices.