Toshiba is considered to be one of the giants and the one who revolutionizes the market of TV manufacturing is about to quit on TV in its US market.
Toshiba said in a statement on Tuesday that it will not be bringing any TV models to the Consumer Electronics Show (CES) next week in Las Vegas, a seminal event that marks the debut for many major TV manufacturers’ new TV lineups.
“Toshiba Corporation is currently evaluating the business model for the U.S. consumer TV market as part of the company’s measures to reform its Visual Products business worldwide,” the statement reads. “Toshiba will announce the details when the decision has been finalized in the next few months.” That’s not a good sign.
Once a large market share bearer and a leading manufacturer in large rear projection TVs, and large-scale CRT TVs, lost its place in market due to slow response to the evolution of digital flat panel LCD TVs.
The rise of Korean giants Samsung and LG including mid-tiers like Vizio and other small Chinese companies increased the pressure on Toshiba. According to a research site the company’s meager 3.7 percent market share of total North American TV revenue in 2012 slid all the way to 1.7 percent in 2014. Now the company’s concern is turning to new tablets and consumer storage offerings.
A spokesman for the brand reportedly told Twice that for this year’s CES, the focus will be on “new tablet and consumer storage offerings. Additionally, we will be demonstrating technologies that highlight our vision for the Human Smart Community,” the spokesman said. As for TVs, as things stand we could be witnessing the end of an era for an iconic name in the industry. We’ll update this story as more developments emerge.