THE RESULTS: Panasonic‘s January-March losses ballooned 10-fold to 438 billion yen ($5 billion) to complete a year of record red ink.
THE FULL YEAR: The Japanese electronics maker lost 772.2 billion yen ($9.6 billion), a reversal from the 74 billion yen profit a year ago. It’s among the biggest losses in Japan’s manufacturing history.
WHAT HAPPENED: Its TV operations, centering around flat-panel sets, have been battered by a powerful Samsung Electronics Co. of South Korea and other Asian companies. A strong yen has also eroded the value of overseas earnings for the Japanese.
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