Panasonics Record Loss of over $10 billion Dollars

The loss is largely due to restructuring charges and writes downs for its Sanyo Electric unit. The television and electronic industry is ruthless and competitive, Panasonic Sony and Sharp Corp expect to lose $17 billion dollars this year.The foreign rival leading the pack is South Koreas' Samsung electronics that coupled with weak demand and a strong yen contribute to the failing company. Advanced technology makes television viewing nowadays more accessible, people can watch their favorite shows on their tablets and smart phones. The TV Market is now a business that is threatened.By the end of March Panasonic will cut 17,000 employees.