| Thread Tools |
23rd November 2012, 08:55 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 148,618
| Credit agency rubbishes Sony Troubled electronics giant Sony has just received a kick in the nadgers from the credit rating agency Fitch. According to Reuters, Fitch claimed that even Panasonic had a better chance than rival Sony of surviving Japan's consumer electronics slump. Fitch cut Panasonic's rating by two notches to BB and Sony three notches to BB minus. It is the first time that the three major ratings agencies have put the creditworthiness of either company into junk bond territory. Panasonic is likely to survive because it has a fairly lucrative, if dull, whitewear line. If people don't want its electronics they still need to wash their socks by night during the Christmas period. Matt Jamieson, Fitch's head of Asia-Pacific said that Panasonic "has the advantage of a relatively stable consumer appliance business that is still generating positive margins". But Sony had practically all of its electronic business losing cash and the company was more overstretched than a victim of the Spanish Inquistion. Generally Japan's TV makers have been kicked to death by cheaper models from Samsung Electronics and other foreign rivals. Panasonic is looking to expand its businesses in appliances, solar panels, lithium batteries and automotive components. While appliances make up six percent of the company's sales, but they generate good margins. Sony is focusing on consumer gadgets in a bid to regain ground from Samsung and Apple in mobile devices while bolstering digital cameras and gaming. http://news.techeye.net/hardware/cre...rubbishes-sony |
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
500K Credit Card Numbers Stolen in Australian Hack | Stefan Mileschin | WebNews | 0 | 20th August 2012 07:14 |
Former NSA official says agency collects Americans' web data | Stefan Mileschin | WebNews | 0 | 31st July 2012 07:27 |
Mountain Lion hits the Mac App Store, is one $20 credit card deduction away | Stefan Mileschin | WebNews | 0 | 26th July 2012 07:46 |
How Facebook Can Hurt Your Credit Rating | Stefan Mileschin | WebNews | 0 | 19th December 2011 07:20 |
Credit Card Companies To Sell Your Purchase Data To Advertisers | Stefan Mileschin | WebNews | 0 | 26th October 2011 06:09 |
Credit Card Sized PC? | jmke | WebNews | 0 | 29th June 2006 17:25 |
Thread Tools | |
| |