Latest in Business

Image credit:

Panasonic scales back flat-panel production investments

Darren Murph

Panasonic already notified the world that it would be moving all plasma panel production to two facilities, and now it's announcing a cut back in investment dollars previously earmarked for a separate pair of plants under construction in Hyogo prefecture. In an effort to take slumping flat-panel demand into account, it's scaling back its investment through 2012 by around $1.5 billion to ¥445 billion ($4.9 billion). Interestingly enough, Panny is simultaneously aiming to "boost its flat TV unit sales by 50 percent next business year," which should be pretty tough unless it steals some serious share from Samsung and LG. Let the battle wage on, we say.

From around the web

ear iconeye icontext filevr