Fremont, Calif. — MicroDisplay Corp. disclosed to TWICE today it is exiting the projection TV business and will be shutting down operations in mid-July.
Marty Zanfino, marketing VP, said the company had no plans to make a formal announcement of the decision, but would be responding to inquiries with the following statement:
“We knew that we were entering a mature, competitive market, and that we had a narrow window in which to succeed. We developed a TV with a unique display technology, excellent picture quality and a low cost, and we saw an opportunity. Unfortunately, the recent uncertainty in the TV industry, highlighted by particularly slow sales in May, made it virtually impossible to introduce a new type of projection TV at this time.”
The company had planned to produce high value LCoS HDTV sets for the mainstream market and had discussions to supply sets for the Memorex brand among others. Prior to joining MicroDisplay, Zanfino had a long tenure in product development with Mitsubishi.