Sony, Panasonic Forecast Worsening Losses as Samsung Dominates
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Japan’s biggest makers of phones, televisions and chips say they’ll lose about $17 billion this year, about three-quarters of what Samsung Electronics Co. will spend on research to lengthen the lead over its competitors.
Sony Corp. more than doubled its annual loss forecast for the year ending March 31 as it announced a new chief executive officer, while Panasonic Corp. and Sharp Corp. predicted the worst losses in their histories. Their combined losses compare with the $22 billion that Samsung, Asia’s largest consumer-electronics company, said it will invest in capital expenditures.