Panasonic logoThe corporate cultures at Panasonic and Sony are quite different, but the two companies now have something in common -- annual losses for the first time in a long time. At seven years long, Panasonic's run of profitability was only half that of Sony's, but this economy doesn't discriminate -- Panasonic wrapped up the fiscal year in March with parentheses surrounding a ¥444 billion ($4.6 billion) figure. All the product sectors we love -- TVs, digicams, appliances and semiconductors -- are hurting, falling short of the previous year's sales figures by 14.4-percent. With cost-cutting a top priority for the coming year, Panasonic's plasma TVs will have to pull in some numbers to avoid the axe -- we're hoping the NeoPDPs are as much of a hit with consumers as they are with reviewers.

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Red is the new black as Panasonic joins Sony in posting annual losses