Arab Today, arab today panasonic headed for record loss
Last Updated : GMT 21:28:25
Arab Today, arab today
Arab Today, arab today

Panasonic headed for record loss

Arab Today, arab today

Arab Today, arab today Panasonic headed for record loss

Tokyo - Arabstoday

Japan\'s Panasonic Corp forecast a record net annual loss yesterday, joining beleaguered rival Sony Corp in a sea of red ink, both struggling to fix their broken TV businesses and overcome criticism that they have lost their way. Panasonic, posting quarterly results, said it was headed for a loss of 780 billion yen ($10.2 billion, Dh37.4 billion) for the year to March, dwarfing expectations for a loss of around $6.2 billion. The loss was almost entirely due to restructuring charges and writedowns, including to its Sanyo Electric unit. Panasonic, which is in the process of shedding 17,000 jobs by end-March, also missed third-quarter market forecasts, diving to a loss of 197.6 billion yen from a profit a year earlier. Its grim outlook follows forecasts by Sony and Sharp Corp for combined losses of $6.7 billion, highlighting the impact on Japanese consumer electronics firms of fierce competition from foreign rivals such as South Korea\'s Samsung Electronics, weak demand and a strong yen. With TVs becoming smart — linked to other devices like tablets and smartphones — an inability to win in the TV market risks hobbling sales across their consumer electronics line-up. \"Panasonic, like Sharp and Sony, has structural problems,\" said Makoto Kikuchi, CEO of Myojo Asset Management in Tokyo, noting all three need to come to grips with problems in their TV businesses. Yet with a slump in market share overtaking that effort, it may need to spend more to squeeze a TV business it refuses to give up on to keep it viable. Speaking at a consumer electronics conference last month, Panasonic President Fumio Ohtsubo dismissed the idea of ditching TVs, a unit that accounts for around 1 trillion yen in revenue. \"At the core of our latest restructuring was to make our TV unit profitable,\" Ohtsubo told reporters in Las Vegas. \"Panasonic\'s TVs may one day be a case study of a recovery,\" he added, citing an example of Japanese material companies that spent 50 years to develop successful carbon composites. 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today panasonic headed for record loss Arab Today, arab today panasonic headed for record loss

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday