Panasonic Extends Plasma TV Leadership With New, Attractive Suggested Retail Pricing On Best-Selling Plasma TVs
Secaucus, NJ, August 31, 2005 – Panasonic, which has just completed a full year as the market leader in Plasma television, confirmed that it will mark the occasion by helping to make the large-screen digital flat panel televisions more appealing to consumers than ever before. Starting September 1, Panasonic will reduce the suggested retail prices of its Plasma TVs by an average $500.
“Plasma has become the standard against which all other TVs are measured,” said Andrew Nelkin, vice president of Panasonic Consumer Electronics Company’s Display Group. “And we are very pleased to be at the front of the plasma movement. Panasonic Plasma TV represents a very attractive proposition for consumers — superb color and picture quality in a large screen flat-panel TV at much more affordable prices.”
With the new pricing, the suggested retail price for America’s best-selling plasma TV, the 42-inch Panasonic TH-42PD50U EDTV, will fall below $2,000 for the first time.
“Panasonic has been investing in the development of plasma panel technology for years,” Mr. Nelkin said. “As a result, we have both the technological expertise and expanding manufacturing capacity to meet surging consumer demand for Plasma TV.”
“Panasonic is the largest and one of the fastest growing Plasma TV brands in North America and is driving the growth of this rapidly rising market,” said Ross Young, president and CEO of Austin, Texas-based display industry research and consulting group DisplaySearch. “North American Plasma TV shipments increased 50% in the first half of 2005 versus the first half of 2004 with even faster growth expected in the second half of 2005. For the year, Plasma TV sales are expected to rise 62% in North America to over 1.6 million units and Panasonic is a big reason why. Within this expanding market, Panasonic’s share rose from 24% to 33% in Q2 ’05 and it is well positioned to further increase its share due to its attractive pricing, excellent quality, internal production and broad distribution.”
In the week ending August 20, the most recent week for which data is available, NPD Group/NPD Techworld reports that Panasonic Plasma TV sales accounted for an unprecedented 44% of the market, based on its weekly point-of-sales data.
Panasonic Consumer Electronics Company is the digital electronics arm of Panasonic Corporation of North America, the principal U.S. subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE: MC). Based in Secaucus, NJ, the company is the hub of Panasonic’s marketing, sales and service and R&D operations in North America. For more information on Panasonic, its parent company and products, visit www.panasonic.com.