Pioneer to halt production of plasma screens

Japanese consumer electronics maker Pioneer, makers of what many consider to be the best plasma panels on the market, is reported to be ceasing production of its own plasma screens, according to Nikkei.

Pioneer is known for producing what many consider to be the best plasma panels on the market. The Japanese business news service Nikkei reported today that as early as this year, Pioneer's Kagoshima production facility could close, and its Yamanashi and Shizuoka plants will shift focus to assembly.

It appears Pioneer is stopping production because it can actually save money by just buying its plasma screens from another company. Pioneer is reportedly working on such a deal with Matsushita Electric Industrial Co, the company from which Pioneer recently said it would buy its 42-inch and under plasmas.

Pioneer recently dropped its projected 2008 plasma sales by almost 40% to 480,000 TVs. Matsushita projected 5 million for the same period.