Panasonic Posts Further Losses On TV Sales

Via Panasonic: Panasonic has announced its latest set of results, posting a net loss of $5.49 billion in the first quarter of the year--ten times the losses the company faced in the same months last year. In large part, this is a fallout of stalling sales on televisions, down to 15.5 million this year, Panasonic estimates. Japan's slipping Yen is also to blame. Japan's Sony is also having a rough patch as a result of TV sales, and as Bloomberg points out, the fact that neither company has a hit electronics product as Google, Apple, Samsung and the rest diversify, doesn't help either. Now, with rumors that today's electronics titans are coming out with televisions as well--Google has a TV in the works with LG, and of course, there's Apple's long-rumored television too--things are looking all the grimmer for Panasonic and Sony, unless they reinvent themselves

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