It's Official: Pioneer to quit TV business By Scott Wilkinson February 12, 2009 — Pioneer has confirmed that it will exit the TV business altogether in the face of the global economic crisis. According to a press release issued today, "Pioneer will terminate any further in-house display product development after its products currently available on the market, and withdraw from the display business by March 2010. Recent market conditions have changed far more than initially anticipated, and Pioneer has decided to withdraw from the display business after concluding that there are no prospects for improving profitability under current conditions. However, the Company will continue to provide after-sales services even after the withdrawal.

"In the optical disc business, we are considering measures for improving profitability, including forming a joint venture [presumably with Sharp].

"Looking ahead, Pioneer will develop Home Electronics business centered on three areas, namely audio products, DJ equipment and cable TV set-top box businesses. We will focus on our specialization in "sound," as we take advantage of our extensive audio technologies and expertise developed over the years to develop new business domains."

It's a sad day in the consumer-electronics industry—the world's finest flat-panel TVs will soon be no more. Kuro, we hardly knew ye...