According to a Toshiba executive, the electronics company might be preparing to exit the LCD display market. At a recent financial briefing senior vice president Fumio Muraoka was quoted as saying, "Our LCD display business has been worsening, and we are in very difficult circumstances We are now discussing all options including withdrawal from the business."
The news comes only weeks after Toshiba unveiled its new Cell TV at CES 2010. The company's LCD display business recently recorded an operating loss of $211 million between April and December 2009 -- and the situation has only gotten worse. Muraoka blames the decline on poor sales, which stems from a shrinking demand, price decline, and a strong yen.
The LCD unit was originally a joint venture with Panasonic, but Toshiba purchased Panasonic's 40% stake in March 2009.