Everybody needs a corporate jet when they’re hemorrhaging money, right?
The tough times continue for Finnish phone giant Nokia, which has struggled to keep up with Apple and Android in the smartphone era. Today the company announced its results for the first quarter of 2012. Net sales fell sharply year over year from $13.6 billion to $9.7 billion. The company took a $1.7 billion loss on those sales, and Colin Giles, the head of sales, stepped down after 20 years at the company.
Japanese electronics manufacturer Panasonic is projecting it will lose a record $10.2 billion (780 billion yen) in 2012 as it tries to fix its struggling TV business, the company said Friday.
A slumping TV business and a surging yen combined to send Sony into the red. The company reported a net loss of $2.09 billion for the final quarter of 2011, a far cry from the nearly billion in profit it managed to end 2010 with.