Japanese electronics giant Toshiba is looking at bowing out of the LCD TV market, according to a senior executive from the company. The Japanese media have reported Toshiba’s director and senior vice president Fumio Muraoka as saying that their LCD display business “has been worsening” and that they were in “very difficult circumstances.” The senior vice president apparently spoke at a recent financial briefing.
Toshiba has been suffering heavy losses in its LCD TV business, having posted a huge operating loss of US$211 million from April to December 2009. Things are supposedly no where near improvement, having only worsened in 2010, according to Toshiba. Mr Muraoka accounts its poor show to price decline, sales decline due to less demand and strong Yen among others.
The company is presently “considering how to respond to the problem and if cost reduction is enough”. All options, including withdrawal from the business are supposedly being discussed, according to Mr Muraoka.
