Victor Company of Japan Ltd. (JVC), a pioneer in the early days of television, will likely become the first major TV manufacturer to withdraw from domestic market, sources said Wednesday.
JVC, Pioneer and other mid-size electronics makers are having a tough time competing with bigger flat-TV suppliers equipped with larger and more advanced production facilities, such as Samsung and Panasonic.
JVC, however, plans to maintain its liquid crystal display (LCD) TV operations for corporate and public sector clients in Japan, according to the Aashi Shimbun.
The electronics maker, owned 36.8 percent by Matsushita and 17 percent by auto and consumer electronics maker Kenwood Corp, is the fifth-largest LCD TV maker in the Japanese market.
The Nikkei said JVC plans to end domestic production and sales of flat-panel televisions, succumbing to fierce competition, and will instead concentrate on North America and Europe.
JVC plans to unveil its latest LCD TV strategy on April 25, when it announces earnings results for the just-ended business year.