Panasonic Reduces Pricing of Best-Selling Plasma TVs
Sep 1, 2005
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Panasonic, which completed a full year as the market leader in Plasma television, confirmed it will make large-screen digital flat panel televisions more appealing to consumers. Starting Sept. 1, 2005, Panasonic will reduce the suggested retail prices of its Plasma TVs by an average U.S. $500.
With the new pricing, the suggested retail price for America's best- selling plasma TV, the 42-inch Panasonic TH-42PD50U EDTV, will fall below $2,000 for the first time.
"Panasonic has been investing in the development of plasma panel technology for years," said Andrew Nelkin, vice president of Panasonic Consumer Electronics company's Display Group. "As a result, we have both the technological expertise and expanding manufacturing capacity to meet surging consumer demand for Plasma TV."
According to Ross Young, president and CEO of display industry research and consulting group DisplaySearch, the plasma TV market is expanding rapidly. "North American Plasma TV shipments increased 50 percent in the first half of 2005 versus the first half of 2004 with even faster growth expected in the second half of 2005," he said. "For the year, Plasma TV sales are expected to rise 62 percent in North America to over 1.6 million units and Panasonic is a big reason why. Within this expanding market, Panasonic's share rose from 24 percent to 33 percent in the second quarter of 2005 and it is well positioned to further increase its share due to its attractive pricing, excellent quality, internal production and broad distribution."
Research firm NPD Group/NPD Techworld recently reported that Panasonic Plasma TV sales accounted for an unprecedented 44 percent of the market, based on a weekly point- of-sales data.
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