One of the biggest brand-name when it comes to household television, Toshiba, has decided not to release any new TV model in the 2015 Consumer Electronics Show to be held in Las Vegas. Rumors circulating around the once great television company say that Toshiba might be throwing in the towel in the treacherous market of consumer TV market in the United States.

In an official statement from the company release on Tuesday, Toshiba revealed that they will not be unveiling a new TV model on the Consumer Electronics Show on Las Vegas. The Consumer Electronics Show is an annual event being for different electronics companies to show-off their newest products. The statement from Toshiba reads "Toshiba Corporation is currently evaluating the business model for the U.S. consumer TV market as part of the company's measures to reform its Visual Products business worldwide. Toshiba will announce the details when the decision has been finalized in the next few months."

Tech experts says that Toshiba's show response to the fast emerging market of flat-screen LCD TV has dealt a heavy blow on the once might manufacturer of large rear projection TV and large-scale CRT TV. Another point experts say that might have affected Toshiba's sale is the rise of retail outlets like Best Buy and various appliances chains.

The unstoppable rise of mid-level manufacturer like Vizio along with the advent of various Chinese manufacturers like TCL has caused Toshiba to lose its grasp on the U.S. consumer TV market. To add to this, probably the biggest hurdle is Korean electronics giants Samsung and LG which has dominated the HDTV market for quite some time already. In fact Toshiba's market share within the North American territory has been steadily declining over the years. In 2012, Toshiba has a market share of 3.7 percent and it had dropped to a meager 1.7 percent in 2014.

A spokesman from Toshiba said that the company's main focus for this year CES will be its "new tablet and consumer storage offerings."