Tag Archives: Q4 2011

Panasonic racks up a record loss for 2012, looks forward to profits and a partner for OLED TVs

Posted on by

Panasonic racks up a record loss for 2012, looks forward to profits and a partner for OLED TVs

Panasonic's yearly earnings are in and the red ink added up to a record $9.7 billion net loss for 2011. Number one on incoming president Kazuhiro Tsuga's list is turning around the company's TV division, where its heavy investments in both plasma and LCD manufacturing resulted in heavy losses. Currently the company expects a better result in both next year after 2011's write downs and restructuring, although its projections see total sales falling from 17.3 million last year to 15.5 million. Panasonic is expected to follow Samsung and LG into large screen OLED HDTV production and outgoing prez Fumio Ohtsubo mentioned it would likely look for a partner there. Sumitomo has been rumored as a potential ally in the past, though a preference for run-flat tires could not be confirmed at press time.

Panasonic racks up a record loss for 2012, looks forward to profits and a partner for OLED TVs originally appeared on Engadget on Sun, 13 May 2012 06:57:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceReuters, Nikkei (registration required), Panasonic 2012 FY earnings  | Email this | Comments

Sony’s final 2011 report shows a record net loss, optimism for 2012

Posted on by

Image

After a slew of bad news and drastically restated projections, Sony has reported the numbers for its full 2011 financial year and as expected, they're not good. The company experienced a record net loss of 456.7 billion yen ($5.73 billion) and an operating loss of 67.3 billion yen. The good news to look forward to however, is that it currently expects an operating profit of 180 billion yen for next year. For the year, it also noted sales of 13.9 million units for the PlayStation 3, 6.8 million PSPs/PS Vitas, 19.6 million LCD TVs and 21 million cameras. Next year, Sony is looking to move 16 million PS3s and 33 million smartphones. New CEO Kaz Hirai has detailed the "One Sony" strategy he hopes will bring the company back to financial health but with its current worth standing at just a fraction of competitors like Samsung and Apple (Reuters pegs it at 10 percent and 3 percent, respectively), the electronics giant has a long, long way to go. Hit the source link below for more dirty financial details, slideshows and spreadsheets.

Sony's final 2011 report shows a record net loss, optimism for 2012 originally appeared on Engadget on Thu, 10 May 2012 03:02:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceSony FY 2011 (PDF), Slides  | Email this | Comments

Logitech president celebrates end-of-year earnings with management cull

Posted on by

Logitech president celebrates end-of-year earnings with management cull

Logitech's Q4 and full-year report makes for uncomfortable reading. Despite profits increasing by a factor of nine in the last quarter of the year, overall annual profit fell 44 percent from $143 million to $71 million. The company has already parachuted in former Whirlpool exec. Bracken P. Darrel to turn things around and recover the losses made when the company went big on Google TV. His first action has been to kick-start a restructuring operation that will save $80 million in costs, starting by cutting a whole management layer -- demoting current product VP Junien Labrousse and firing sales VP Werner Heid. Mr. Darrell is now working directly with his team on a new lineup of "stronger" products to be unveiled later this quarter, with an emphasis on Windows 8 peripherals and LifeSize video conferencing gear.

[Image credit: Wikimedia Commons]

Continue reading Logitech president celebrates end-of-year earnings with management cull

Logitech president celebrates end-of-year earnings with management cull originally appeared on Engadget on Thu, 26 Apr 2012 18:26:00 EDT. Please see our terms for use of feeds.

Permalink   |   | Email this | Comments