Pioneer ending HDTV production, selling off DVD business
February 6, 2009 by Derek
In yet another business blow for the battered electronics industry, Pioneer, electronics giant, is ending all HDTV and TV production as of now.The Nikkei in Japan is reporting this despite a strong resurgance in profits from the company, it still posted over a billion in losses, and will shut down all TV production.
The DVD business it owns will be spun off and/or sold off in a deal with Sharp, and several thousands employees will be laid off in a plan it had begun to implement anyway to shut down plants in Europe.
Hey, it was bad enough news when they let LaserDisc die on the vine, but the company feared the worsening economic climate would push them towards more losses in the next quarter.
RIP Pioneer TV (and Laserdisc, a Pioneer player of which I owned in the 6th grade and was quite proud to own).
