Tag Archives: sharp

Business/Economics, International, Technology

What Economic Recovery? For the first time in 62 years, TV maker Sharp will layoff 5,000 workers! Despite profits Panasonic will let go 7,000 workers! Sony 10,000!

01 August 2012, Sharp announced that it will layoff 5,000 employees between now and March 2013, then, on 02 August reported a record loss of $1.6 billion USD for the quarter April-June!  That’s three times its loss from the same quarter last year!

The layoffs will affect workers in Japan, and in other countries.  Sharp hopes most of the layoffs will come from convincing older workers to retire early.

Sharp now expects to lose $3.2 billion for the year 2012!

Sharp has reported record losses, but, Panasonic recently reported profits and still plans to layoff 7,000 employees!

On 30 July 2012, Panasonic revealed that it plans to reduce its headquarter staffing by 7,000, leaving only 150 HQ staff employed!

Panasonic reported profits for the past quarter, but they (just like Sharp) suffered huge losses in 2011, and they expect sales to drop for the rest of 2012.

Panasonic executives say they hope to find other jobs for the 7,000 HQ staffers in Japan.

Back in April 2012, Sony revealed they will layoff 10,000 employees, both in Japan and in other countries.  On 02 August 2012, Sony reported a loss of $315 million for the quarter Arpil-June.

Sony officials revised their expected losses for this year, almost doubling it!

All three of these companies are losing big money in one sector of their industry: Televisions with LCD screens!  They say people around the world just aren’t buying enough LCD TVs.

Or is it that company execs messed up and ordered the production of way too many TVs with liquid crystal displays?

Business/Economics, International, Technology, U.S.

What Economic Recovery? Panasonic reports record loses!

May 11, 2012, Panasonic reporting a record loss for the year ending in March.

Panasonic ended the Japanese year with a net balance of minus $9.8 billion USD, it’s the fourth straight year of loses for the electronics company!

Panasonic officials blame it on a huge drop in TV set sales.  In April, Sony and Sharp gave the same reason for their losses as well, and blamed it on the lack of recovery in the United States.

 

Business/Economics, International, Technology, U.S.

What Economic Recovery? Sony posts record loss, Sharp says they’re about to follow suit, blames the United States for lack of economic recovery

April 10, 2012, Sony announced the biggest loss in its history!

Sony says it lost about $6.4 billion USD for their quarter ending in March!  That’s $4 billion more than they first estimated back in February.

Sony officials blame the monster loss on huge declines in sales in the United States!

Another Japanese company, Sharp, says it will post record loses as well.

Sharp says loses could be as high as $4.6 billion USD, much higher than first thought back in February!

They also blame lack of economic recovery, saying their TV sales have crashed!

Sharp is now forced to sell controlling stake in its liquid crystal panel factory to a Taiwan company, Hon Hai Precision Industry.

 

 

 

Business/Economics, International, Technology, U.S.

What Economic Recovery? Sony blames $2 billion loss on the United States & Europe, no more Sony TVs for you

On November 3, Sony announced that its television division is likely to post a record loss of about U.S.$2.2 billion for 2011.  That makes eight straight years of losses!

Sony is blaming poor sales in the United States and Europe.  This is more proof that the U.S. is no longer the market place for the World’s manufacturers.

Sony Executive Deputy President Kazuo Hirai says there is no sign of any economic recovery, and the company will revise downward its mid-term sales target by half.  Sony will also cut way back on TVs sold in Europe and the U.S.

Panasonic and Sharp say they will do the same.