We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Panasonic reports $4bn loss

Firm says business will shrink by 10 percent

Panasonic revealed a loss of $4bn for the 2008 financial year.

Analysts had already predicted the Japanese electronic company was likely to experience a loss, but the figure exceeded all estimates.

The announcement comes as electronic giant Sony also revealed a loss of £680m.

Takeshi Osawa, senior fund manager at Norinchukin Zenkyoren Asset Management, told Reuters: "Compared to Sony and other rivals, Panasonic has good track record of restructuring its way back to profitability. I have more faith in Panasonic's ability to recover than I do for other firms."

Panasonic also revealed it expected business to shrink by 10 percent during the 2009 financial year, resulting in a further £2bn loss in profits.


IDG UK Sites

Best Christmas 2014 UK tech deals, Boxing Day 2014 UK tech deals & January sales 2015 UK tech...

IDG UK Sites

Apple's 2014 highlights: the most significant Apple news of 2014

IDG UK Sites

2015 creative trends: 20 leading designers & artists reveal the biggest influences & changes coming)......

IDG UK Sites

Ultimate iOS 8 Tips: 35 awesome and advanced tips for using iOS 8 on iPhone and iPad