According to a new media report in Japan, Panasonic Corp might be planning to withdraw from the plasma television operations as parts of its plant to streamline its television business during the coming years.

A report in Nikkei newspaper said on Monday that the company might begin withdrawing from the segment starting next financial year. The Japanese consumer electronics maker, which is in the middle of financial difficulties, is already selling its non-core assets to improve its balance sheet position amid a slowdown in the global economic demand.

The report said that the company’s TV business will record falling revenues during the coming years. According to estimates, the revenues from the TV business will fall from 1 trillion yen in financial year 2009 – 2010 to about half that amount during financial year 2015 – 2016. The company has not confirmed plans to downsize the TV business but a spokesperson only said that the Panasonic is looking at various options for its TV unit.

The company is planning to halt the production of plasma TV panel at its major plant in Amagaskai in Japan from fiscal year 2014 and has reportedly already written-off production equipment at the plant.