"Panasonic in India has retained some models in the Plasma category owing to its existing demand in the country," said Panasonic India Managing Director Manish Sharma.
International media reports had said Panasonic will exit from the plasma TV business and stop manufacturing at its main plasma screen plant in Amagasaki in western Japan.
As per the reports, the company was making huge loss on plasma TV and as a part of corporate strategy it is opting out from the business.
(Also see: Panasonic to shut down plasma TV production by March 2014: Report)
In India, Panasonic sales Plasma, LCD, LED televisions under Viera range.
Quoting Consumer Electronics and Appliances Manufacturers Association (CEAMA), Sharma said the total demand for flat panel TVs is approximately 8 million and the total flat panel TV market is growing at a 30 to 35 percent.
"Looking at the current situation, we see that a product that brings together convenience and convergence of factors like connectivity and entertainment features, thus enhancing a consumers? digital lives, becomes a 'sought after' product," he added.
For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.