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Panasonic and Sony mired in Japanese electronics slump
Panasonic and Sony have been hard hit by weakening demand for TVs, a strong yen, and lower production following the Thailand floodsJapanese electronics firm Panasonic has nearly doubled its projected net loss for 2011 to ¥780bn (£6.47bn) – the biggest in the company’s 95-year history – as the global economic crisis dampens demand for TVs and mobile phones. Panasonic reported a net loss of ¥197.6bn in the three months to December, following “significant sales declines” and ongoing restructuring costs following its purchase of Sanyo Electronics in 2009.
published date:Fri, 03 Feb 2012 16:32:43 GMT