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Panasonic

Panasonic, Sanyo confirm merger

Panasonic will acquire rival Japanese electronics maker Sanyo for up to JPY800 billion (US$9 billion) through a public tender offer after major shareholders, including Goldman Sachs, agreed to the takeover, the companies said Friday.

US patent firm seeks ban on imports

Cellular News reports that, following a complaint late last year by patent holdings firm, Saxon Innovations, the US International Trade Commission (ITC) has voted to institute an investigation of certain electronic devices.

Panasonic to cut 15,000 jobs

Panasonic said today it will slash 15,000 jobs and shut down 27 plants worldwide to cope with plunging demand for its TVs, semiconductors and other electronics products, notes Associated Press.

Panasonic slumps to US4 billion annual loss

Panasonic reported a JPY378.96 billion (US$4 billion) loss for the fiscal year ended March and expects to stay in the red in the current fiscal year, reports AP News.

Panasonic swings to loss

The Wall Street Journal reports that Panasonic swung into the red (a net loss of JPY52.98 billion/US$600 million) in its fiscal first quarter ended 30 June as soft demand for electronics and costs related to early retirement programs weighed on its bottom line.

Lufthansa preps major wireless services push

German airline Lufthansa will today unveil the most extensive array of mobile phone and Internet services available on any air carrier, according to a Wall Street Journal report.