Latest in 2011

Image credit:

Panasonic racks up a record loss for 2012, looks forward to profits and a partner for OLED TVs

Share
Tweet
Share
Save

Sponsored Links

Panasonic's yearly earnings are in and the red ink added up to a record $9.7 billion net loss for 2011. Number one on incoming president Kazuhiro Tsuga's list is turning around the company's TV division, where its heavy investments in both plasma and LCD manufacturing resulted in heavy losses. Currently the company expects a better result in both next year after 2011's write downs and restructuring, although its projections see total sales falling from 17.3 million last year to 15.5 million. Panasonic is expected to follow Samsung and LG into large screen OLED HDTV production and outgoing prez Fumio Ohtsubo mentioned it would likely look for a partner there. Sumitomo has been rumored as a potential ally in the past, though a preference for run-flat tires could not be confirmed at press time.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share
Save

Popular on Engadget

YouTube Originals will be free to watch starting on September 24th

YouTube Originals will be free to watch starting on September 24th

View
Nintendo will replace a newly purchased Switch with newer model

Nintendo will replace a newly purchased Switch with newer model

View
Google pulls 85 Android apps with particularly obnoxious adware

Google pulls 85 Android apps with particularly obnoxious adware

View
24 hours with the Samsung Galaxy Note 10+

24 hours with the Samsung Galaxy Note 10+

View
A popular immigration bill is bad news for US esports

A popular immigration bill is bad news for US esports

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr