May 17, 2012, Toshiba announced no more TV set production in Japan, no thanks to competition from South Korea, and crashing sales in the United States!

Toshiba reported a $620 million USD loss for the past Japanese fiscal year!

The company also revealed that TV sales in Japan have crashed ever since television broadcasters switched to digital broadcasting last year.

Toshiba will continue TV production in factories outside of Japan.  Hitachi also announced they will end TV production in Japan, in September.