Panasonic to tie up with Best Buy to market and sell 3D TVs in US: report

3D TV in the US will cost $2,500. Panasonic TVs in the US will be about 30 per cent cheaper than those in Japan. (EB FILE)

Panasonic will tie up with the top US electronics chain Best Buy to market and boost the sales of its 3D TVs in the United States, the Nikkei business newspaper reported yesterday.

The report comes ahead of the world's fourth-largest flat TV maker's launch of its 3D TV in the United States this month amid rivalry with TV makers such as Samsung Electronics, LG Electronics and Sony.

Best Buy will set up special exhibition corners where its customers can view 3D videos in its 300 stores in major U.S. cities. This will expand to 1,000 stores by the end of the year, the Nikkei reported. Panasonic's 3D TVs in the United States will be about 30 per cent cheaper than those that go on sale in Japan in April, but will not have internet access capabilities.

A 50-inch TV will cost about $2,500 (Dh9,182) in the United States, the Nikkei newspaper said.

The sci-fi blockbuster Avatar and other recent titles have sparked great interest in 3D films and prompted studios to plan a stampede of new movies, boding well for 3D TVs.

Panasonic's president said last week that its TV business will likely turn profitable in the financial year from April after two straight years of losses, thanks to cost-cutting and the launch of higher-margin 3D TVs.

The firm eyes to sell one million 3D TVs worldwide in the financial year to start from April, half of which will be sold in the United States, the Nikkei said.

DisplaySearch expects nine million 3D TVs to be sold globally in 2012, still a sliver of the current worldwide TV market of about 200 million sets.


Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.


Print Email