JCNNetwork: The world’s No.1 plasma TV maker Panasonic Corp reported a net loss of 52.98 billion yen ($559 million) in April-June 2009, down from a 73 billion yen profit a year earlier.
For the year to March, the company kept its net loss forecast of 195 billion yen (US$2.0 billion), half of last year’s 379 billion yen loss (US$4 billion), but worse than analysts’ estimate of a 185 billion yen loss (US$1.5 billion).
Revenue for the April-June quarter fell 26% to 1.595 trillion yen (US$16.8 billion) from 2.152 trillion yen (US$16.7 billion) a year earlier, partly because of slow sales of digital cameras and flat-panel television sets.
Panasonic is still targeting TV sales of 15.5 million units this fiscal year, up from 10.05 million last year, to lift its market share to 12%. As part of its TV, Panasonic will aggressively push plasma TV sets greater than 50-inches diagonal in the U.S., Europe and China given such screen sizes earn higher margins. It also will seek to cut production costs
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