Pioneer Corp. said Friday it expects to suffer a ¥15 billion group net loss in the business year to the end of this month due to its decision to terminate its plasma display panel production.
It will be the fourth consecutive annual loss for the consumer electronics maker. The estimated loss contrasts with a previous forecast announced in January of a ¥6 billion group net profit for the same year.
Pioneer formally announced its plan to withdraw from manufacturing plasma display panels when production of the next model ends, citing the huge development costs and intensifying competition. It did not specify when output will actually end.
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