Panasonic Forecasts $9.6Bn Loss Amid Falling Sales

[Mama77]

[size=4][color=#333333][font=Arial, Helmet, Freesans, sans-serif][url="http://panasonic.co.jp/corp/news/official.data/data.dir/2012/10/en121031-6/en121031-6-1.pdf"]It has forecast[/url] a net loss of 765bn yen ($9.6bn; £5.9bn). It had earlier projected a 50bn-yen profit.[/font][/color]
[color=#333333][font=Arial, Helmet, Freesans, sans-serif]The firm has been trying to restructure its business and said costs relating to that were expected to be almost 11 times more than previously estimated.[/font][/color]
[color=#333333][font=Arial, Helmet, Freesans, sans-serif]Its sales have been hit by slowing demand for TVs and a strong yen.[/font][/color]
[color=#333333][font=Arial, Helmet, Freesans, sans-serif]Panasonic also reported that it made a loss of 698bn yen in the July-to-September quarter.[/font][/color]
[color=#333333][font=Arial, Helmet, Freesans, sans-serif]The firm said that continued uncertainty in the global economy over the eurozone debt crisis and the slowdown in Asian economies, including China, had hurt demand for electronics goods.[/font][/color]
[color=#333333][font=Arial, Helmet, Freesans, sans-serif]At the same time, domestic consumption in Japan continues to remain subdued. The electronics giant said its sales in Japan fell 11% in the three months to the end of September, as compared with the same period last year, while overseas sales dropped by 14%.[/font][/color]
[color=#333333][font=Arial, Helmet, Freesans, sans-serif]Manufacturers of TVs have also seen their profits margins squeezed as slowing demand and rising competition have led to a fall in retail prices.[/font][/color]
[color=#333333][font=Arial, Helmet, Freesans, sans-serif][url="http://www.bbc.co.uk/news/business-20151145"]http://www.bbc.co.uk...siness-20151145[/url][/font][/color][/size]