Sony wasn’t the only major CE manufacturer to lose a bunch of cash last year. Panasonic did too. Except Panny’s loss was to the tune of $3.95 billion, which is slightly more than Sony’s $1.03 billion write-down.
Panasonic (JP:6752) said the result reflected the impact of the stronger yen, collapsing demand and persistent price-deflation in electronics goods.
There you have it. Did you expect anything less? It’s pretty basic: US consumers didn’t buy as many of Panasonic’s wares because of the failing economy. Ah, well. What can you do. It’s just $3.95 billion.
I think its very telling how huge of an operating loss that companys survive on.
People stop spending like out of control consumers like they did for years, and all of a sudden everyone is losing billions.
Unsustainable all around.