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Panasonic forecasts 90 percent drop in profits this yearOpen in New Window
Avatar Posted by marthajoan 41 days ago (http://www.networkworld.com)
Category: network | Tags panasonic, forecasts, , percent, drop, profits, year,
"Citing a 'sharp deteriation' in business conditions, Panasonic has slashed its full-year sales and profits forecasts."The current financial crisis originated in the U.S. has spread across the wo read more »
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Pioneer forecasts deeper full-year loss, replaces presidentOpen in New Window
Avatar Posted by articleeditor 70 days ago (http://www.networkworld.com)
Category: network | Tags pioneer, forecasts, deeper, fullyear, loss, , replaces, president,
Due to plummeting sales in the home and automobile electronics markets, Japan's Pioneer Corporation announced it expects yearly losses to be four times greater than previously estimated. Overall sales in the third quarter of 2008 were down 13% compared to last year. Revenue from Pioneer's Home Electronics Divison fell 30% in the third quarter, with the Automotive Electronics and Business units also seeing large drops in operating profits. The only area to see increased sales was in car navigation systems. The company's poor performance resulted in the the removal of President Tamihiko Sudo by the company's Board of Directors. Sudo was replaced by Susumu Kotani, who is currently managing director at the company. Kotani expects further job losses as the company begins restructuring. read more »
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