LG Says It Will Continue Selling Plasma TVs

LG has denied that it will be pulling out of the Plasma TV market following a report that was written in a Korean newspaper and was subsequently republished in a number of high profile online tech websites.

The Korean Chaebol released a press release saying that as a founding member of the Plasma Display Coalition, it was still committed to the plasma business and believed plasma TVs are an important segment in the flat panel display sector.

Furthermore, unlike some current and former plasma TV players, LG owns core technologies for plasma TVs and PDP modules, giving them a unique position in the market and still expects to sell more than 3 million plasma TVs in 2009, roughly one in every five Plasma screens.

LG says that it will focus on Plasma TV screens 50-inch and bigger, where demand is highest and LCD competition is significantly less ferocious. The company is also planning for six new models that will include a pair of 60-inch televisions.

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Had LG moved out of the market, there would have been only Samsung and Panasonic left as the only Plasma manufacturers. On a side note, Gizmodo is also reporting that LG could be mulling plans to start CRT (Cathode Ray Tube) displays for some markets.

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