Following a fiasco revolving around four consecutive years of loss Pioneer, the Japanese electronics giant contemplates on a comprehensive withdrawal from the Television market. The withdrawal will be effected from March 2010.

Pioneer disclosed in a statement that they regretted their no longer being able to offer the range of highly appreciated products in the coming days, though the after-sales service will be taken care of promptly by them that would enable the customers to continue benefit from the existing warranties. The company added that, however it will lay increased stress on manufacturing car electronics, DJ equipments and car-audio devices including Car Blue-ray players.

Initiating a tie-up with Panasonic in plasma TV development, and Sharp in LCD TV development Pioneer had resorted to everything possible to promote their status in terms of sales. However, the company’s restructuring will result in about 6,000 permanent staff job losses and 4000 temporary employees job losses, especially owing to the scheduled closure of the UK plants this month.