Company officials also lowered operating revenue forecasts because "plasma display sales are projected to fall below forecasts chiefly in Europe and North America."

Lower than expected Plasma TV sales hurt Pioneer Corporation's results in the last quarter of 2007. Pioneer's Home Electronics reported today that quarterly sales dropped 9.6% year over year.

Overall plasma display sales declined due to decreases in home-use sales in Europe and North America, despite higher home-use sales in Japan, and due to decreases in OEM and business-use sales. Plasma display sales accounted for approximately 42% of Home Electronics sales. Sales of Blu-ray Disc-related devices and DVD drives rose, but sales of DVD recorders decreased.

Operating income increased 36.8% year on year, mainly due to higher earnings in the Car Electronics business and improved profitability in the Others segment, despite a larger loss in the plasma display business. Net income decreased 30.7% year on year.

Company officials also lowered operating revenue forecasts because "plasma display sales are projected to fall below forecasts chiefly in Europe and North America."