October 24, 2013
Mitsubishi recently announced that it would shutter its front-projection and large-format LCD TV operations in order to focus on the company’s LCD data wall display efforts. Mitsubishi says sustained losses in recent years factored into its decision. The move follows the company’s decision last December to exit the rear projection TV business. Mitsubishi, which developed one-piece rear projection systems in the 1970s, is credited with helping to launch the large-screen TV movement.
“We have been sustaining significant losses for a number of years now,” he explained. “Our CEO back in Japan has a philosophy that we have to make strong businesses stronger and in turn cut off businesses that are not making money and affecting the profitability of the stronger businesses.”
“The company was credited with helping to build the very large-screen TV category, when it began innovating one-piece rear projection systems in the Seventies,” reports TWICE. “Later, the company was among the first to launch a consumer-focused plasma TV, helping ignite the flat-panel TV business that continues today. Now, with front projectors added to the mix, Mitsubishi will be out of the consumer-focused home entertainment display market, entirely, Chan confirmed.”
The company will continue to honor existing product warranties.