The decision, reported by Reuters, is a departure from the company's past strategy to focus exclusively on Plasma in the larger-screen category.
Matsushita has issued Panasonic LCD sets in the 32-inch and smaller category, but not 37-inches or larger.
However, sales of LCD flat-screens have soared in the past year, eclipsing the Plasma set as the hottest model in the TV category.
DisplaySearch, Reuters writes, has reported that global LCD TV sales jumped 54 percent in the first quarter of this year while Plasma sales fell nine percent.
iSuppli, another research firm, said this week that Plasma sales may plateau in 2008 due to increasing competition from LCD.
Matsushita said the 37-inch LCD HDTV will launch in Japan on September 1 for $2,508 with a release in the United States and elsewhere by year's end.
Despite the introduction of the 37-inch LCD, Matsushita said it still planned to emphasize Plasma in the larger-screen category.
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