Pioneer quitting TV production, and spinning off DVD?

pioneer-logoOk when rumors start flying that a major player such as Pioneer is dropping their TV production and dropping their DVD business into a new company things can get a bit dicey. Apparently the original plan was to source Panasonic plasma panels in a way to cut costs, but in the end they ended up still facing a loss of just over one billion dollars, this has pretty much forced their hand to close down their TV development and production completely.

They also apparently are working with Sharp to spin their DVD business into a new company together that would basically shed several thousand employees over the next year or so and close down the Shizuoka plant which would be added to the US and European plant closings we’ve heard are happening. I mean this economic downturn is really pruning the companies that were wasting cash on things or just braking even before it started to turn bad. Though personally I still don’t know what Pioneer will be doing I mean will they be making tv stands and mp3 players? Or are they going to cut all the fat down until their only making cameras or silicon chips or something how far will they keep cutting back. I mean it’s not small things their cutting, LaserDisc is dead, their TV manufacturing is dead, and their DVD business is on 1 leg?

Source: Engadget

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