Panasonic's yearly earnings are in and the red ink added up to a record $9.7 billion net loss for 2011. Number one on incoming president Kazuhiro Tsuga's list is turning around the company's TV division, where its heavy investments in both plasma and LCD manufacturing resulted in heavy losses. Currently the company expects a better result in both next year after 2011's write downs and restructuring, although its projections see total sales falling from 17.3 million last year to 15.5 million. Panasonic is expected to follow Samsung and LG into large screen OLED HDTV production and outgoing prez Fumio Ohtsubo mentioned it would likely look for a partner there. Sumitomo has been rumored as a potential ally in the past, though a preference for run-flat tires could not be confirmed at press time.
Panasonic racks up a record loss for 2012, looks forward to profits and a partner for OLED TVs originally appeared on Engadget on Sun, 13 May 2012 06:57:00 EDT. Please see our terms for use of feeds.
Permalink |
Reuters, Nikkei (registration required), Panasonic 2012 FY earnings | Email this | Commentsthe big chill tony blankley steelers charles barkley beyonce troy polamalu james harrison
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.