As the year draws to a close Panasonic was warned Wall Street to expect close to a $10 billion annual loss for the year. But Panasonic is not alone, Sony and Sharp are also in trouble as Japan's best known electronics brands struggle with a rapidly changing worldwide market.
Remember, corporations like these saw the DTV switch-over in the USA just a few years ago as a financial windfall. So what happened?
Good riddance. The world can do with less gadgets! Sony has been slacking off for too long and I doubt they'll ever get back on top. I love collecting their old electronics though. I think smart phones are pretty much destroying the whole market. When you can pack a quality digital camera, music player and computer all into one, not much need for anything else.
Although I do have and like some of today's electronic gadgets, I'm big into old school electronics, especially from the 1980's to mid/late 1990's, such as stereo component systems (by Technics, Pioneer, Kenwood, Sony, etc.), boomboxes, Walkman-style cassette players and (sometimes) VHS. However, one "old school" thing I've completely done away with is film photography. The last time I used a film camera was back in the spring of 2007, when I used my Minolta APS SLR camera I bought for Christmas 1996. I sold the camera shortly after its last use in 2007.
What gets me is that I don't see things getting any better next year. All electronic gadgets have to fight for market share, even big screen TVs. And I wonder about these companies honoring the warranty on expensive stuff if the loses continue. Something to think about before any future purchases, imo.