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Pioneer and Hitachi post losses, point the finger at plasma

by Darren Murph, posted May 14th 2008 at 1:32PM


The most previous quarter is a sore subject for both Pioneer and Hitachi, as the pair of mega-corps have just posted substantial net losses. The latter announced a $559.3 million net loss, while the former said its net loss for the fiscal fourth quarter ended March widened to $287.2 million. Hitachi pointed at "large restructuring losses in its flat-screen-TV business" as the primary culprit, and it didn't predict a return to profit until the fiscal year ending March 2009. After experiencing the fourth straight year of losses, Pioneer even mentioned that it would "start talks with its unions to shed 300 jobs in Japan" along with closing two domestic plants following the pullout from PDP production. So yeah, we'd probably rethink that plan about jumping into the plasma production biz. [Warning: read link requires subscription]

Filed under: Industry, Displays, Hitachi, Pioneer, Plasma

Tags: business, earnings, hitachi, industry, pioneer, plasma, problems, report

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