At one stage, Patric Hornqvist and Henrik Zetterberg squared the match at 2-2 but the Slovaks restored their 2 goal advantage.
"I'm not going to be part of any more Olympics as a player," said 39-year-old Lidström, a four time Stanley Cup winner with the Detroit Red Wings.
Lidström's final play was a shot with 3 seconds remaining from atop the left faceoff circle that Slovak goalie Jaroslav Halak saved.
"I don't want to talk about an era right now," Peter Forsberg said afterwards.
"Obviously, you can look at the birth certificates and know we are not going to play too many more."