Panasonic loss balloons 10-fold

By Yuri Kageyama

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Buying SANYO didn't help either.

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Panasonic is forecasting a return to profit for the fiscal year ending March 2013, at 50 billion yen profit on 8.1 trillion yen sales, up 3%.

No wonder no foreign investor takes Japanese management seriously. From a 772 billion yen loss to a 50 billion yen profit in one year????? With no major change to their company or worldwide business conditions. LOL.

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How long can Sony and Panasonic bleed money like this until they go bankrupt?

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All J-consumer electronics firms all face a death sentence, provided they make transformational changes--come up with game changing products, market-changing strategy, or they will be fighting the ever increasing price-wars with the likes of Korean/Taiwanese/Chinese makers.

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Maybe Koyuki will agree to do the next set of Panasonic commerciakls for free.

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If Panasonic did not have its domestic market, it would be gone already.

I used to work for Panasonic in a head office function over a decade ago. I could see it was old-fashioned and reactive at the time.

I remember once when my section made too much money compared to the business plan. The head and his no. 2 devised a scheme to invest the surplus revenue in some expensive software to get the balance back to his forecast. Only the Japanese!

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A strong yen has also eroded the value of overseas earnings for the Japanese.

This excuse is getting pretty old, and I do not want to hear it.

Befor blaming the strong yen, they need to look at themselves on the mirror why they failed. They are still prducing old products the consumers do not need. They are beating dead horses. There are many Japanese corporations here in US telling US managers to promote the DEAD products.

Come out here and see in your own eyes why they are failing first, but these managers only care about their pay and retirement. Clock in and out business mentality without any innovative thinkings have to go out the door.

I remember there used to be a company called "Sanyo",and they are gone forever. The cell phone sector of Sanyo merged to Kyocera and the rest was spinned off to China as they failed in global market. Th cell phone business is very tough here. Kyocera cell phone needs to be with Sprint with minimum monthly fee of $30/month while I can go out and get a phone(Samsung) from Walmart with no contract with prepaid minutes. I save almost $500 annually by doing this. Some love Apple iphone with many features with $80/month. Some carry ipad for tex message. Then why do I need a cell phone from Japan?

By the way, my Panasonic phone was made in China and already broken. Their poor US customer service and poorly written manual are my reasons why I would never buy Panasonic products. The manual is missing many logical steps for set up. Sad.

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The everything to everyone - I will follow the leader and make it better and cheaper model has been co-opted by Samsung and next up China. Learn from Steve Jobs and create something that is grounding breaking and resistant to pricing pressure.

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