Panasonic Relies on White Goods

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Juro Osawa, Panasonic Pins Hopes on Home Appliances. Wall Street Journal, Mar 24, 2012.
http://online.wsj.com/article/SB ... 99220858867322.html

Quote:

"Struggling with deep losses from its flagship television-set business, Panasonic Corp. PC 0.00%is pinning its hopes on a less glamorous segment of consumer electronics: refrigerators and washing machines. Such home appliances, or so-called white goods, represent one of Panasonic's few steadily profitable operations

"it forecasts a record ¥780 billion ($9.49 billion) net loss for this fiscal year. The company expects its fourth straight fiscal year of losses from its TV business, while its chip business also is in the red.

"Seeking to cash in on growing demand for green technology, the company bought Sanyo Electric Co in 2009 to focus on rechargeable batteries and solar panels, but those businesses are now facing fierce competition from South Korean and Chinese rivals.

"For the fiscal year ending this month, Panasonic expects its home appliances business to generate revenue of ¥1.29 trillion—6% of the group's revenue outlook of ¥8 trillion—and an operating profit of ¥93 billion, making it the company's most profitable business. About half the revenue from white goods is generated overseas.