24 Jan 2012

Hitachi to exit TV production

5:55 am on 24 January 2012

Hitachi is to no longer make televisions from the end of September.

The giant electronics company will end production in Japan, having already outsourced overseas TV manufacturing to foreign firms two years ago.

But it will continue to sell its Wooo television brand, which is made by outside contractors.

The BBC reports Japanese TV manufacturers have been hit by increased price competition and by a strong yen hitting export sales.

Last week, Moody's downgraded both Sony and Panasonic, pointing to losses in their TV divisions.

In August, it was announced that Hitachi, Sony and Toshiba were to merge their LCD units.