Categories: News

News: Panasonic Forecasts Annual Loss for FY2011 at a Record of $10.24B!

 

The latest japanese TV manufacturer, Panasonic updated its annual forcast recently and predicted losses of ¥780 billion ($10.24 billion), which is, untill now, the largest loss encountered in the company’s past.

This loss beings it close to the loss record posted by Hitachi in fiscal year of March 2009 of ¥787.34 billion ($10.33 billion). The causes of the loss are blamed on the Thai floods and the strong yen, although Panasonic wrote off ¥250 billion ($3.28 billion) in April for the buyout. The quarterly net loss was predicted at ¥3 billion ($39.37 million) but reached an astonishing ¥197.6 billion ($2.59 billion). Panasonic’s huge loses seem to make Sony’s recently disappointing results look a little less disastrous.

sanah

Recent Posts

SENS MJ 2 Neckband Review

SENS, a new wearables company in India launched a handful of devices in the country.…

2 years ago

Truke Buds F1 True Wireless Earbuds Review

The true wireless earbuds market is growing rapidly in India. Truke, a German brand with…

2 years ago

Jabra Elite 4 Active True Wireless Earbuds Review

Jabra has been one of the leading brands in audio peripherals since the company’s outset…

2 years ago

Nokia C01 Plus Review: The Budget Smartphone For Everyone!

The entry-level price segment i.e the price bracket under Rs. 10k has not seen much…

3 years ago

Infinix Smart 6 Review: The Best Value For Money Smartphone

Infinix is well known for launching a budget range of smartphones in India that offer…

3 years ago

Technology Trends That Impact Business Communication

Running a business requires more than just financial solid and customer relations. To successfully grow…

3 years ago