On CE - For Dealers, Distributors and OEMs of Consumer Electronics throughout EMEA

Reuters reports Panasonic suspending development of the Jungle, its cloud-based handheld gaming device.

Announced last October, Panasonic set up a US subsidiary to handle the project-- Panasonic Cloud Entertainment (PCENT). However news quickly dried up following the announcement and a single game revelation (a MMO based on the TV show Battle Star Galactica, BSG: Online).

The Reuters news item says Panasonic's development suspension comes "...due to changes in the market", which is a fair enough point. Would the Jungle offer any competition to the soon-released Nintendo 3DS and Sony's NGP if actually released? Certainly noone can tell now.

Go Panasonic Says Has Dropped Game Development Project (Reuters)

Go Panasonic Returning to Video Game Jungle?

Toshiba announces the commercial availability of its large glasses-free 3DTV sets-- models with screens larger than 40".

Soon launching in the European market, the company has prototypes of, amongst others, the world's first 65" glasses-free 3D set and a 56" set.

However the company still has to decide on which actual models to launch. Toshiba currently offers glasses-free 3DTVs with 12" and 20" sizes.

Toshiba's prototypes carry a LED-backlit 4k2k panel, while the company says its viewpoint overlay technolgy allows users to even move their heads while viewing 3D content without compromising the effect.

Go Toshiba to Announce Large Glasses-Free 3DTVs

Recently bankrupt rental chain Blockbuster is up for auction-- with buy-out bids starting at $290m.

Starting off the bidding is Cobalt Video Holdco LLC (as the stalking-horse bid), pending agreement to manage the auction by a New York bankruptcy court. Final investment offers are expected within 30 days.

The future Blockbuster buyer will take over of the chain's assets-- including its European outlets in Italy, UK and Denmark-- with no binding agreement on continuing the chain as-is.

Blockbuster says the majority of its outlets will continue operating as normal during the bidding process.

Once the auction is approved (and successful) the sale will be finalised by April 2011.

Go Blockbuster Initiates Process to Sell Company

In a restructuring effort to make its business more profitable, Best Buy announces store closures in Turkey and China -- alongside reduction of its International segment's IT infrastructure costs.

The retailer will exit completely from Turkey-- closing all its current operations, including 2 Best Buy large-format stores.

Meanwhile the Chinese restructuring will involve closing 9 Best Buy stores as the company explores "more profitable growth options". It will also consolidate its brand's operations with its Chinese Five Star business.

In fact, Best Buy is set to focus on the Five Star business-- planning to open 40 - 50 stores in the growing Chinese market during 2012. The company describes Five Star as "a profitable business model" in China.

As mentioned above, the company will also be reducing its entire International segment's IT infrastructure costs-- and writing down related IT assets-- as it focuses on its Best Buy Mobile business in its home market.

Go Best Buy Restructuring Plans