LG Factory Shutdown : The Impending Death of Plasmas?

Although sales of HDTVs have been rising over the past few months, it looks like plasmas have been suffering. Affected by quality improvements to LCDs as well as the loss of price advantages, it looks like plasma HDTVs may become a thing of the past.

To make matters worse, LG has officially announced the shutdown of their Korean plasma factory that will cut monthly production by 70,000 units. It is part of their plan to cut monthly production costs by a whopping $32 million. The company has also said that it plans to shutdown other similar factories over the coming months.

Hopefully this won't be a short death of plasmas, but it looks like it is a death nonetheless.