Pioneer, one of the leading plasma TV manufacturers, confirmed recent rumors by releasing a statement acknowledging it would stop making its own plasma TV panels, and instead source them from other panel suppliers, most likely Panasonic (Matsushita).

Pioneer joins a growing list of companies that have exited the plasma manufacturing business. Many of them—including Sony, Mitsubishi, and Fujitsu—no longer sell plasma sets. Pioneer, however, will continue selling plasmas under its own label. It's not clear, though, how much of its touted Kuro plasma technology will make its way into the new sets, something the company said it was exploring. Many Pioneer models have been among the top performers in Consumer Reports' Ratings of plasma TVs.

The company will also start selling LCD TVs for the first time as a result of a previously announced deal with Sharp Electronics, which will supply the sets as part of an investment in Pioneer.

In the statement, Pioneer described its decision as a cost-cutting move that will allow the company to be more competitive in the plasma business and focus its internal resources on other product categories, such as home audio and video (including Blu-ray players) as well as mobile electronics, including in-dash car navigation systems.

"This move will allow us to transform our business model for displays from vertically integrated, capital-intensive operations to a leaner business model geared to making value-added product proposals," Pioneer said in a press release. Going forward, the company will source the components, then assemble the sets and sell them, and will continue R&D on technology to improve performance.