Panasonic Closes Plasma TV Plant in China

http://online.wsj.com/article/SB10001424127887324081704578234920278808676.html

However, Panasonic, which has invested billions of dollars into producing plasma and LCD panels for TVs, said it plans to continue to assemble some plasma TV sets in China. It will move operations to another Chinese TV factory in the eastern province of Shandong, where it currently produces LCD TV sets.
Having posted net losses in three of the past four fiscal years, the company, known for its Viera TV sets, is redoubling efforts to streamline operations to return to profit. In October, Panasonic forecast a net loss of ¥765 billion ($8.61 billion) for this fiscal year ending March 31, citing hefty restructuring costs.