SEOUL: South Korea's LG Electronics Inc said it will wind down its plasma television business by end-November, as a technology long overtaken by liquid crystal display takes one step closer to its demise.
LG Electronics said in a regulatory filing on Tuesday that the decision reflects a decline in demand for plasma TVs, with the business accounting for 2.4% of its 2013 annual revenue. The exit was widely anticipated as LCD TVs have become the mainstay in global markets.
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