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Panasonic sees 3D TV price war

posted 2 Sep 2010, 07:46 by Mpelembe Admin
Japan's Panasonic sees a 3D TV price war ahead, saying over-ambitious sales targets have left manufacturers with a glut of panels.

ASIA-COMPANYASIA - Japan's Panasonic sees a 3D TV price war ahead, saying over-ambitious sales targets have left manufacturers with a glut of panels.

Panasonic and other makers like Sony have high expectations for 3D TV sales, but Panasonic now says sales of 3D units in the U.S. may be worse-than-expected, because of intense pricing competition from South Korean makers such as Samsung and LG.

The oversupply will drag down prices industry-wide.

Panasonic, the world's No.4 flat TV maker, says other firms hiked their sales targets by up to 60 percent for the current financial year, while it only raised its forecast by 30 percent to 21 million sets.

Japanese media say rival Sharp will cut its LCD panel output for up to two months, while a government discount programme in the country has been extended to support sales.

Also worrying for Japanese makers has been a sharp rise in the yen to 15-year highs, which threatens to squeeze overseas earnings.

Arnold Gay, Reuters.

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