Panasonic has posted another hefty annual loss as the consumer electronics giant continues to struggle.
The Japanese company on Friday reported a loss of 754.3 billion yen ($7.42 billion) for fiscal 2013, which ended in March. In fiscal 2012, it posted a loss of 772.2 billion yen. Sales for fiscal 2013 declined 7 percent from the previous year to 7.3 trillion yen ($71.9 billion).
Panasonic had put into place a vast restructuring plan meant to pull the company out of its tailspin, but it conceded today that the results were far below what it was … Read more