Panasonic will exit the unprofitable plasma television panel business by the end of the financial year to March 2014, according to a Reuters report. Panasonic has reported a $15 billion net loss in its two latest financial years. Its TV business posted an operating loss of 88.5 billion yen ($913 million) in the last financial year.

The Japanese company has a plasma panel factory in western Japan.

Plasma display TVs accounted for less than 6 percent of global shipments in 2012, compared with 87 percent for LCD TVs, according to research firm DisplaySearch.

Panasonic said in a statement on Wednesday that it continued to consider various options for the plasma display panel business but that nothing had been decided yet.