Tokyo  - Japan's JVC company has decided to pull out of the domestic market for flat-panel television production this summer and expects a net loss for fiscal year
2007, the Nikkei business daily reported Wednesday.

JVC plans, instead, to maintain its production and sales of liquid-crystal display televisions for the European and US markets, the business daily said.

As the first Japanese home electronics company to withdraw from the local market, JVC has suffered a fourth straight net loss due to stiff competition in the flat-panel business with rivals such as Sharp Corp with a 36-per-cent market share, Matsushita Electric Industrial Co with 20.3 per cent share, and Sony Corp with 12.9 per cent share.

JVC, with a declining market share of 2.9 per cent, saw 30 billion yen (296.4 million dollars) in LCD television sales in 2007. Of 1 million sets sold worldwide, 300,000 units were marketed in Japan. (dpa)