Panasonic losses balloon to €6.7bn

Panasonic’s losses ballooned to 698 billion yen (€6.7bn) in the second quarter as sales of flat-panel TVs, laptops and other gadgets plunged, and restructuring costs prove bigger than initially expected.

The figures, announced today, proved far worse than the 105.8 billion yen (€1bn) loss racked up for the July-September period last year.