Panasonic, Best Buy Partner On 3D TVPanasonic, Best Buy Partner On 3D TV

Best Buy and Panasonic are working together to showcase 3D television technology.

The companies on Wednesday announced that Panasonic's 3D home theater system would be displayed and sold via Best Buy's Magnolia Home Theater, which is found in Best Buy stores.

In unveiling its latest 3D TV strategy, Panasonic joined rivals Samsung Electronics and Sony in laying out plans this week for the technology that's generating wide interest within the industry, if not yet among consumers. Best Buy, which also sells Samsung 3D sets, is one of a few national retailers offering 3D televisions. Others include Sears and Amazon.com.

Best Buy hopes having the Panasonic bundle in stores will help drive traffic and provide the retailer with the opportunity to display the new technology for potential buyers.

"The demand for 3D technology in the home is just beginning for consumers," Michael Vitelli, president of Americas for Best Buy, said in a statement. "And Best Buy is uniquely positioned to bring this experience to life for our customers."

The Panasonic bundle includes a 50-inch Viera VT20 Plasma 3D high-definition TV, one pair of viewing glasses, and a Blu-ray disc player. He package, initially be available only through Best Buy's Magnolia division, will cost $2,899.99.

The suggest retail price of each item is $2,499.95 for TV, $399.95 for the disc player and $149.95 for viewing glasses. With prices of traditional flat-panel TVs falling, manufacturers are hoping that 3D televisions and related equipment will bring relief from the deflation. It could take years, however, for 3D to gain momentum, because of a dearth of content. To fill the void, cable TV companies and broadcasters are developing 3D programming and Hollywood studios are releasing a steady stream of 3D movies.

The industry's push to 3D is expected to eventually drive TV sales. Global 3D TV shipments will rise to 78 million units by 2015, rising at a compound annual growth rate of 80% from 4.2 million units this year, according to iSuppli. Revenue will increase to $64.4 billion during the same timeframe, from $7.4 billion this year.