 On 2005, Matsushita Toshiba Picture Display Co. Ltd. (a joint venture between Panasonic and Toshiba created in 2002) stopped production of CRTs at its factory in Horseheads, New York.A year later, in 2006, it stopped production at its Malaysian factory, following heavy losses.On January 19, 2006, Panasonic announced that it would stop producing analog televisions (then 30% of its total TV business) from the next month, in order to concentrate on digital televisions.