Pioneer forecasts even wider net loss, names new president

As the flagging economy wreaks havoc on just about every mega-corp out there, the latest to publicly admit to being affected is Pioneer. After posting a rather significant loss earlier this year, the company is now guiding to a wider-than-forecast net loss of ¥78 billion ($789.9 million) for the year to March 31, blaming the surging yen and the slowing economy. The company is scheduled to nix its unprofitable plasma-panel operations by February and slash 2,000 jobs this fiscal year in order to counter the bleeding, and it looks as if former president Tamihiko Sudo is one of the first bigwigs to fall. As of November 16th, Susumu Kotani (pictured right) will take over that role, though we can't imagine he's looking forward to grabbing the captain's chair in such a turbulent environment.

[Via PC World, image courtesy of DayLife]

[Lowest Ranked @ Nov 3rd 2008 4:42PM]

The only changes I see here are a new tie and a different wig.

[iEye @ Nov 3rd 2008 4:54PM]

extra button on the left...

[Lowest Ranked @ Nov 3rd 2008 5:06PM]

Sweet upgrade.

[iEye @ Nov 3rd 2008 4:44PM]

Ah the only company in te clear is Nintendo. it is allways better to under produce a product, and sell to the highest bidder.

[Chris @ Nov 3rd 2008 4:58PM]

I look forward to your daily avatar changes.

[fikhl @ Nov 3rd 2008 6:05PM]

@iEye
Will ya teach me the magic of changing avatars in Engadget..?

[iEye @ Nov 3rd 2008 6:15PM]

My avatars really? well I was thinking about going a bit risqué, you know, NSFW...

anybody else want to know the secret of changing avatars? If so, send $1 to Happydude. 742 Evergreen Terrace. Remember, happiness is only a dollar away!

you have the power!

[king @ Nov 3rd 2008 6:38PM]

the background banner says "Panasonic."

shouldn't this be the image for "panasonic loves sanyo?"

[Russ @ Nov 3rd 2008 8:03PM]

It says "Matsushita Electric" at least. The first two characters are probably the last two characters of Pioneer (ニア/"nia"). I think Pioneer and Panasonic have some production/business agreements so this photo probably comes from one of those press conferences.

[TheMagnificen7 @ Nov 3rd 2008 8:16PM]

Who cares? My Pioneer Elite receiver and 60" Pioneer Elite Kuro are coming Friday, and nothing can stop it! Hurrays!

[iEye @ Nov 3rd 2008 8:29PM]

Too bad the Kuro is FAIL...

http://www.engadget.com/2008/10/18/mitsubishis-65-inch-laservue-hdtv-undergoes-further-testing/

[TheMagnificen7 @ Nov 4th 2008 2:37AM]

@ iEye

I hardly think that makes it a fail. I got a wicked price and the panel is just gorgeous. I'm pretty sure I'll be OK.

[illystor @ Nov 3rd 2008 8:58PM]

I just want to say, good luck, we're all counting on you.

[DAZA @ Nov 4th 2008 3:14AM]

I just want to tell you both good luck. We’re all counting on you ...

[bjppolo @ Nov 4th 2008 2:22AM]

They look so happy...

[Brad @ Nov 14th 2008 11:48PM]

So, it says Pioneer is to "nix" its plasma panel operations. Does that mean, no more name-branded Pioneer plasmas, or just that the whole TV will start to be made 3rd party and have a Pioneer name slapped on it?

[Don @ Nov 20th 2008 1:12PM]

King and Russ are right, it defiantly says Matsushita on the banner. This a photo taken when Panasonic and Pioneer made a plasma agreement: http://www.daylife.com/photo/018J3PsePj4z7