Sony announces commitment to plasma TV business

Sony recently released a statement aimed at quelling rumors the company was looking to exit the plasma television market in light of the company's struggles to establish itself
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Sony is denying rumors that it is considering abandoning the market for plasma TVs.

Sony issued a news release last month saying it has “absolutely no intention of abandoning the plasma television business in the United States in 2005 or the foreseeable future.”

Earlier, the Nihon Keizai Shimbun in Japan reported that Sony, the world’s number two plasma TV maker behind Matsushita, owner of Panasonic, and ahead of third-largest Hitachi, would exit the plasma business as early as the spring of 2005. The report pointed out that Sony does not actually make its own plasma models and is struggling to stay competitive.

Sony, whose executives have said they will focus their attention in the future on LCD television sets, apparently felt a need to renew support for plasma technology.

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