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Sony: We're staying in plasma TV market

Electronics maker denies reports that it's getting out of the plasma television business to focus on LCDs.

Sony Electronics issued a statement Wednesday refuting reports that it's getting out of the plasma TV business.

"Sony has absolutely no intention of abandoning our plasma television business in the U.S. in 2005 or the foreseeable future," company representatives said in a statement. "It has been a strong, viable line in both our consumer and professional-display market segments this year, and we anticipate continued growth."

Earlier this week, reports from two newspapers in Japan said the electronics giant would stop selling plasma-based flat-panel televisions as early as spring of next year to focus on liquid crystal display televisions. According to the reports, the move was meant to enable the company to concentrate on LCD TVs and lower prices.

The company has been one of the major manufacturers of televisions, which, as a product category, is one of Sony's main sources of revenue.

Sony recently formed a joint venture with electronics rival Samsung Electronics, called S-LCD, which will manufacture LCD panels, the key component in LCD TVs.

However, that should not be taken as a sign that Sony will get out of the plasma business, the company said in a statement.

"While we are enthused about the prospects of our joint LCD-manufacturing venture, PDPs will definitely remain in our product lineups moving forward," the statement said.