Reuters: Technology News: Panasonic executive: panel displays to return to profit in Q4

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Panasonic executive: panel displays to return to profit in Q4 Nov 15th 2012, 05:26 Tweet Share this Email Print Related News Panasonic prepares for "garage sale", to axe 10,000 jobs Wed, Nov 14 2012 Intel, Qualcomm may invest $378 million in Sharp: sources Tue, Nov 13 2012 UPDATE 2-Intel, Qualcomm may invest $378 mln in Sharp-sources Tue, Nov 13 2012 At Panasonic, blunt chief looks to force turnaround Wed, Nov 7 2012 Sharp's stock falls, credit downgraded as worries mount Fri, Nov 2 2012 People visit Panasonic Corp's booth at CEATEC JAPAN 2012 electronics show in Chiba, east of Tokyo, October 2, 2012. Credit: Reuters/Yuriko Nakao IBARAKI, Japan | Thu Nov 15, 2012 12:26am EST IBARAKI, Japan (Reuters) - Panasonic Corp's panel display business should return to profit in the three months to March 31, as it decouples from Japan's struggling TV industry with stronger sales of LCD panels to makers of tablets and PCs, the head of the division said in an interview on Thursday. "We are now making displays for more than 10 models of tablets and PCs," Yoshio Ito said at a former factory in the town of Ibaraki in Osaka, western Japan, once the hub of the company's TV production and which now serves as his headquarters and a research and development center. Sales of small LCD panels will likely make up around 60 percent of the unit's sales in the October-March second half of the business year compared with 30 percent in the first six months, he said. As Panasonic draws back from TVs it is looking to boost sales of smaller LCD panels used in tablet computers and mobile phones, a strategy also being pursued by local rival Sharp Corp. In the three months to September 30, the company's audiovisual division posted a loss of 2.1 billion yen ($26 million), with sales down 7 percent from a year earlier. For the full year it cut its operating profit forecast for the unit to 36 billion yen from 121 billion yen. Panasonic last month warned it will post a net loss of close to $10 billion in the year ending next March 31 as it writes off tax deferred assets and goodwill related to its mobile phones solar panels and small lithium batteries. (Reporting by Tim Kelly and Reiji Murai; Editing by Michael Watson) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions