Never heard of, or seen an Audiovox branded LCD TV? Don’t worry, you’re not alone but, to those loyal Audiovox fans out there, if there happen to be any, I bring you sad news.

It was recently announced that due to the declining state of the world’s economy, that Audiovox will no longer produce LCD TVs, along with laying off a modest 8% of it’s employee base. Hoping that this will cut down the companies losses, Audiovox hopes to reduce expensives a full $8 million with the move away from LCDs.

While this may be unfortunate to some, it’s no surprise that the lesser known companies are having a hard time keeping up with more popular brands, like Samsung and Sony, especially during this economy crisis.