Sony is dropping its money-losing rear-projection TV business worldwide to focus on two flat panel technologies — liquid crystal display and organic light-emitting diode. Sales of rear-projection TVs had been declining recently as LCD TVs gain in popularity and get bigger, the company said.
In October, Sony lowered its global sales forecast for rear-projection TVs to 400,000 from 700,000, which is down from 1.1 million the previous fiscal year. By contrast, Sony expects to sell 10 million LCD TVs this fiscal year through March, up from 6.3 million the previous year.
The decision to abandon rear-projection TVs underlines Sony's strategy of focusing on LCDs and OLEDs at a time when competition is heating up in flat TVs. (AP)