Published on February 6, 2012 10:09 AM

Panasonic: Record Losses Expected

With Panasonic's fiscal year due to end on 31 March, the tech giant is expecting to see record losses, estimated at around $10 billion.

It looks like it's been a tough year for Panasonic, as the firm is apparently gearing up to announce record losses of almost $10 billion at the end of its fiscal year on 31 March. The last quarter proved particularly challenging for the firm, and Panasonic isn't expecting things to get better any time soon. Like other tech manufacturers—notably Sony—Panasonic has been struggling to deal with the difficult economic climate in Japan following the Tsunami, as well as production-related issues caused by flooding in Thailand. What's more, Panasonic and other Japanese firms are continuing to pay the price of the yen's growing value, not to mention dwindling global demand.

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