MANHASSET, N.Y. In another sign of how technology advances are helping drive down the cost of consumer electronics, Panasonic will cut the retail prices of its plasma TVs an average of $500 beginning Sept. 1.
Panasonic, the U.S. subsidiary of Japan-based Matsushita Electric Industrial Co. Ltd., is considered the largest supplier of plasma screen TVs. The company has over the past year
stepped up its efforts in the high-definition TV market with a number of new plasma screen TVs, the most recent a 65-inch model slated to be available beginning November.
With the new pricing, the company’s 42-inch TH-42PD50U EDTV will fall below $2,000 for the first time, according to Panasonic.
The lower plasma TV prices come largely as a result of capacity expansion from plasma display suppliers,. Here, Panasonic faces stiff competition from rival suppliers who are also increasing production in an effort to capture market share.
This week, South Korean rival LG Electronics is launching a plasma display plant in Gumi, North Gyeongsang the company said would make it the industry's leading plasma display supplier.