Panasonic to cut US plasma TV prices by 20%

In a press release issued this morning, Panasonic said it will cut the MSRP of six of its plasma TVs sold in the US, by between $500 and $1,000, effective 1 September. The company's "entry-level" TH-42PD50U, whose MSRP had been $2,499, will now be marked at $1,999.

A quick check of online retailers' prices shows the TH-42PD50U was already selling for street prices of about $2,000. No word as to whether these retailers will follow suit.

Read the complete press release... (PR Newswire)