Japanese electronics company Panasonic has forecast a record net loss of 780bn yen (€7.7bn) for the fiscal year to March amid falling sales of digital products and production disruptions from flooding in Thailand.

Toshiba said today it will no longer develop, make or market HD DVD players and recorders, handing a victory to rival Blu-ray disc technology in the format battle for next-generation video.

Global multimedia corporation Canon today said it would inspect and provide free part replacements for 1.87 million personal copiers worldwide because of a risk some may catch fire.

The owner of electronics giant Panasonic today announced plans to shut a UK factory after opting to switch production to Asia and Slovakia.