Panasonic returns to US TV market after decade-long absence

PANASONIC Holdings, once the world’s biggest plasma-TV manufacturer, is starting to sell TVs in the US again. 

Three flat-panel models, featuring OLED and LED displays, developed and designed in Japan, are available via Amazon.com and Costco Wholesale. Following the Japanese manufacturer’s collaboration with Amazon earlier this year, all TVs will have a Fire TV built-in, allowing for video-on-demand services and online gaming. 

Known for its appliances and as a critical supplier of batteries for electric vehicles, the electronics maker ceased plasma-display production in 2013 due to cost inefficiencies and declining demand. The rise of smart homes and an expansion of Panasonic’s operations enabled the new initiative, according to executive vice president Yasunari Anan.

“It has been my mission to find a way to return,” Anan said in a statement. US sales made up 24 per cent of Panasonic’s revenue of US$59.7 billion for the fiscal year through March. BLOOMBERG