Nippon Sheet Glass Co. of Japan announced on March 29 that it would exit the plasma panel glass business. The Japanese vendor only recently entered the market in 2002, but experienced intense competition and failed to gain significant customers from PDP panel manufacturers. In 2002, the company developed its “Vingt et Un” glass for PDP substrates.
Coupled with the continued decrease in PDP TV prices due to competition from LCDs, the company was forced to make the decision to exit the business. The firm is likely to book a one-time 1.1 billion yen (about $9.3 million) loss to exit the business.
NSG also announced that its fiscal year ending in March 31 has incurred extraordinary losses of 760 million yen and 350 million yen for write-off of fixed assets and disposal of inventories, respectively, due to the discontinuation of its PDP business.