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Panasonic says its TV business will turn profitable by 2011

By March 3, 2010March 24th, 2020Newswires

Panasonic chief says its TV business will turn profitable by March 2011
by Yuri Kageyama

TOKYO (AP) – Panasonic`s chief is optimistic about profit opportunities from taking over Japanese rival Sanyo, especially in solar panels, and vowed to return the company`s money-losing TV business to the black by March 2011.

Panasonic Corp. President Fumio Ohtsubo was upbeat about taking advantage of what he said was Sanyo Electric Co.`s technological lead in solar panels and batteries.

Panasonic, which makes Viera TVs and Lumix digital cameras, bought its smaller and unprofitable Japanese rival Sanyo for $4.6 billion last year — forming one of the world`s largest electronics makers.

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