Business

Mitsubishi unit to quit LCDs by March

Kyodo

Mitsubishi Electric Corp. will withdraw from the liquid crystal display panel business by March 31, sources said.

The electrical machinery manufacturer, which has the largest share in the domestic market for LCD panels for desktop computers, made the decision due to slumping demand, the sources said Thursday.

The desktop-use LCD market is shrinking as demand continues to shift to laptops and smartphones.

Mitsubishi Electric will also pull out of the business of making large LCD panels for public facilities and commercial establishments, the sources said.

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