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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