Panasonic will reportedly reduce plasma TV panel production as its loss-making television unit struggles to compete with Samsung and LG, media in Japan reported on Thursday.

Panasonic will stop plasma panel production at its Amagasaki No. 3 factory in Hyogo prefecture in Southern Japan, broadcaster NHK and the Yomiuri newspaper said on their websites.

The Amagasaki plasma panel factory has a production capacity of 330,000 panels per month and produces large panels from 42 inches to 150 inches, the paper said.

Panasonic is currently considering options to make its TV bussiness more profitable. The company plans to announce consolidated financial results for fiscal 2012 second quarter, including whether to revise the current annual forecast, scheduled on October 31, 2011.