- Obama takes aim at ‘corporate deserters’
- Dick’s Sporting Goods lays off 478 PGA golf pros
- Senators: Cease-fire must allow Israel to defend against rockets, tunnels
- Sierra Leone doctor fighting Ebola catches disease
- Iraq welcomes Russian fighter jets, helicopter gunships into ISIL fight
- John McCain laments: Obama’s ‘self-pity … is really kind of sad’
- GOP offer to fix VA gives $10 billion in emergency funds
- Paul Ryan offers to repair U.S. economic safety net with a single grant stream
- Kim Jong-un builds bond with Putin: $250M Russia-backed addition to key port opens
- Pope Francis meets Meriam Ibrahim, a Sudanese woman sentenced to death
Latest Panasonic Corp. Items
Japanese electronics makers Panasonic Corp. and Sharp Corp. both stuck to full year forecasts for massive losses even as results for the latest quarter got a boost from the weaker yen.
Japanese electronics maker Panasonic Corp. returned to the black last quarter as cost cuts and a weaker yen offset sliding sales.
Panasonic is showing off a prototype TV that combines the two hottest technologies at this year's gadget show in Las Vegas: organic light-emitting diodes and ultrahigh definition.
Sony Corp. reported Thursday a smaller flow of red ink for the fiscal second quarter on a sales recovery and restructuring efforts and stuck to its full year forecast for a return to profit from its worst loss in company history the previous year.
Panasonic Corp.'s losses ballooned to 698 billion yen ($8.7 billion) for the fiscal second quarter as sales plunged in flat-panel TVs, laptops and other gadgets, and restructuring costs to turn itself around were proving bigger than initially expected.
Panasonic Corp. said Tuesday it returned to the black in the April-June quarter, logging a net profit of 12.8 billion ($163 million) mainly on lower costs after cutting more than 38,000 jobs over the last year.
Long-time Japanese rivals Sony Corp. and Panasonic Corp. are working together to develop next-generation TV panels called OLEDs in a reversal of decades of rivalry as they try to catch up with South Korea's Samsung Electronics.
Panasonic's January-March losses ballooned 10-fold to 438 billion yen ($5 billion), completing a year of record red ink at the Japanese electronics maker battered by natural disasters and an ailing TV business.
Panasonic Corp. stayed in the red in the latest quarter and projected a huge annual loss due to slumping TV sales and a strong yen.