The consumer electronics industry has been hit especially hard by the recession and slow consumer spending, as electronics are among the first things that many families cut back on when money is tight. However, several consumer electronics companies, including Sony and Panasonic, have posted results that may signal some recovery in the market.
Sony just posted its fourth-consecutive quarterly loss on Friday, a fact that is troublesome on its own. However, the brighter outlook on the global economy and cost-cutting measures have allowed Sony to trim its loss forecast for the year in hopes that the situation will continue to improve.
Panasonic also raised its annual forecast, a move that may show that Japanese consumer electronics makers have reached the depths of the recession and are on their way to recovery. While demand for televisions and other electronics had disappeared at the height of the global economic crisis, Panasonic’s optimism gives hope to the rest of the consumer electronics industry.
Post from: EveryJoe