Japanese electronics giant claims there is still a future for plasma TV despite reports from Japanese press.

Panasonic has declared that it intends to continue production of plasma TVs despite speculation that it is to cease to do so.

The announcement of extensive losses from Panasonic’s TV division (an estimated £1.5bn in 2012) and the closure of its plasma TV manufacturing plant in Shanghai earlier this year led to furious speculation in the Japanese press that the company might pull out of plasma entirely as soon as next year.

But announcing his midterm management plan, company president Kazuhiro Tsuga has said that he intends to turn TV’s losses around and bring them back into profit over the next three years, though he admitted there may be some restructuring to focus on ‘solutions’ rather than ‘products’.

This has been taken to mean that Panasonic may be looking to partner with other companies to produce end products rather than manufacturing from start to finish itself.

A statement by the company says that “The content of the report regarding our Plasma Display Panel (PDP) business is not something announced by Panasonic. In regard to the PDP business, Panasonic will continue to deliver value added products, proposing new ways for our customers to enjoy their TVs. This includes taking advantage of PDP features such as the touch pen function as well as the big screen and high picture quality.

“In addition, for non-TV use, we are expanding our Business to Business (B2B) opportunities for the PDP business with products such as the Interactive Plasma Display.

“Regarding the growth strategy for the TV business, we are looking into a variety of options, but nothing has been decided at the moment. Regarding new products for 2013, in follow up to our global announcement in January 2013 at the Consumer Electronics Show (CES) in the US, we are holding subsequent local product launch events worldwide. Panasonic has been enforcing global business, aiming to sell value added products with better design and high picture quality that meet the needs of our global customers.

“There will be no change of service support for PDPs, and our dealers should have no concerns about continuing to sell Panasonic PDPs.”