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A meeting of Pioneer Corp.'s board of directors has resulted in a restructuring of the company's display business and discontinuation of its internal plasma display production. Instead the directors plan to enhance Pioneer's position in other areas of electronics.
According to the company, maintaining the cost competitiveness of plasma display panels at projected sales volumes would be difficult going forward. As a result the board of directors decided to terminate in-house plasma display production and procure the panels from outside sources. Production will cease after its next series of models is complete. Pioneer also plans to streamline the entire display business to a scale commensurate with sales, and compensate for cutbacks in the plasma display business by driving further expansion in its growth businesses.
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