Smaller Japanese Makers Exit

Japanese company Pioneer (6773.T), which launched the world's first plasma TV in 1997 and for a short while carved out a valuable niche in high-end models, has said it will withdraw from the flat TV business by next March. Pioneer controlled 5.8% of the plasma TV market in 2008, compared with Panasonic's 38.6% and Samsung's 23.5%, according to research firm DisplaySearch. Other second-tier Japanese makers struggling to gain traction in the flat-TV market include Mitsubishi Electric (6503.T), JVC Kenwood (6632.T), and Hitachi.