Panasonic Sees A Lot of Red Ahead

May 22, 2009 - ProAV News, rAVe [PUBS],

After announcing a $4 billion fiscal year loss earlier this week – the first loss of any kind in seven years for the company – Panasonic said that the worse may still be ahead of them. And, they’re not alone. Recently, Sony, Toshiba and Pioneer also announced losses in their most recent quarters. But, in the case of Panasonic, it’s getting worse – the company said they expect at least a 10 percent decline in sales for 2009 and into 2010, which would yield another $2 billion fiscal year loss if that turns out to be true. Let’s hope not!