Panasonic Exec Sees 3D HD As The Next Big Thing

Will consumers really be willing to put on a pair of 3D glass to watch TV?

For few days ago, Panasonic (PC) made the case for 3D television in a press conference at the Consumer Electronics Show in Las Vegas. In an interview on Friday with Tech Trader Daily, Yoshi Yamada, CEO of Panasonic’s North American arm, asserted that 3D could be the third great leap in the history of television, ranking with the move to color from black and white and the switch to flat-panels from cathode ray tubes.Yamada sees 3D as a way to amp up consumer excitement about television, and contends that 3D high-def televisions are “just around the corner,” with a target of 2010 for the introduction of the first commercially available 3D capable televisions. That seems ridiculously optimistic; as Yamada notes, the industry still has to agree to a standard for 3D broadcasts; he says Panasonic is holding talks with the Blu-Ray trade group and others, but concedes that there are a number of proposed standards for 3D. Other obvious hurdles: the lack of 3D content and the need for consumer to put on special glasses to watch television.

Although, certainly, nothing is more stylin’ than a pair of 3D specs.

I’d note that Panasonic was not the only company at the show singing the praises of 3D video; the subject took up a considerable chunk of time in the keynote on Thursday by Sony (SNE) CEO Sir Howard Stringer. I’d suggest that’s it no accident that the CE players are talking about 3D TV at a time when sales growth for flat-panel TVs has slowed dramatically: it’s another reason to upgrade.

Yamada said Panasonic is accelerating the completion of a 3D Blu-Ray authoring system, and should have it completed by the end of the month. Yamada said it is too early to say how the addition of 3D functionality will affect the cost of building flat-panel displays.

On the outlook for 2009, Yamada said “we’re certainly facing very challenging times, no question about that,” but that the industry is far better positioned than, say, the housing or auto industries. He notes that the Consumer Electronics Association is expecting a flat year in 2009; he thinks Panasonic can do better than that.

Friday morning, Panasonic announced that it might not hit its financial targets for the March 2009 fiscal year.

Yamada said the company’s U.S. flat panel business had been doing well through the end of September, then slowed down beginning in the middle of October. He said November was “discouraging,” but that December sales were actually better than expected in flat-panel TVs and Blu-Ray players. “There was growth,” he says. “Not big growth, but it didn’t drop.” By contrast, he says sales in December were down “sharply” in camcorders, digital still cameras and audio systems.

On Friday, Panasonic fell 28 cents, or 2.1%, to $13.14.