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Sales slump pushes Panasonic into loss

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Sales slump pushes Panasonic into loss

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Panasonic has become the latest electronics maker to report huge losses due to weak demand, price falls and hefty restructuring costs.

Its net loss for the financial year just ended was the equivalent of 2.8 billion euros. It is the first time in seven years that it has not made a profit The world’s biggest maker of plasma TVs also forecast a bigger-than-expected annual loss for the year ahead.