Japanese consumer electronics maker JVC plans to cease its money-losing LCD (Liquid Crystal Display) TV business in
Japan, quitting manufacturing and sales operations in the country, Jiji Press reported on April 17. By exiting the LCD TV business in
Japan, JVC is expected to strengthen its foothold in the overseas markets instead.
The plan is slated for completion around mid-2008, according to Kyoto News. As part of the plan, the company will shut down its LCD TV plant located in
Yokosuka,
Kanagawa Prefecture. Further details, however, were not yet disclosed.
JVC aims to shift its focus to sales in
Europe via consolidating its strategic alliance with Funai. According to Reuters, the company, however, will continue LCD TV operations
for its existing clients in both the enterprise and public sectors in
Japan.