Japan's Sharp, Panasonic post massive losses
- Published: 1 Feb 2013 at 21.44
- Online news: Asia
Embattled Japanese electronics giants Panasonic and Sharp on Friday racked up more than $11 billion in combined losses over the nine months to December, and warned there was more bleeding to come.
Panasonic introduces the new 4Kn OLED TV at the 2013 International Consumer Electronics Show in Las Vegas on January 8, 2013. Embattled Japanese electronics giants Panasonic and Sharp on Friday racked up more than $11 billion in combined losses over the nine months to December, and warned there was more bleeding to come.
The battered sector has suffered from problems including a high yen, slowing demand in key export markets, fierce competition notably in the television market, and strategic mistakes that left companies' finances in ruins.
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