TOKYO: Japan’s Mitsubishi Electric Corp. on Monday announced a decision to effectively terminate its liquid crystal display panel television business.

It has become difficult to keep the products competitive amid rapid changes in the market environment and consumer needs, the electronics maker said.

Mitsubishi Electric already ended shipments of the products to home electronics mass retailers in September. It plans to fully terminate its LCD TV production after continuing shipments to small local shops mainly selling Mitsubishi Electric products until March 2024.

The company manufactures its LCD TV sets overseas, while the designing and quality management of the products are undertaken at the company’s Kyoto Works in Nagaokakyo, Kyoto Prefecture, western Japan.

Mitsubishi Electric plans to shift the segment’s business resources to home electronics-related divisions such as the air conditioning systems business.

The company started selling LCD television sets under the REAL brand in 2004.

JIJI Press