Hitachi said in its latest quarterly earnings report that the division that includes plasma TVs and DVD recorders lost $160 million, leading to an overall 77 percent decline in net income for the company. Hitachi attributed the drop in plasma display sales to falling prices in the wake of intense competition with other plasma makers as well as LCD rivals.
On a positive note, Hitachi also said that it began production of plasma display panels at a new manufacturing plant operated by Fujitsu Hitachi Plasma Display Ltd., which according to the company helped to lower the costs of producing the plasma panels.
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