Panasonic is the latest Japanese TV manufacturer to feel the squeeze, and how it's just updated its annual forecast to predict a loss of 780 billion ($10.24 billion), by far the largest in the company's history and coming close to the record 787.34 billion ($10.33 billion) loss Hitachi posted in the fiscal year ended March 2009. Like most other Japanese companies, Panasonic is blaming the strong yen and Thai flooding, although it also wrote off 250 billion ($3.28 billion) for the buyout of Sanyo in April. Its quarterly net loss was 197.6 billion ($2.59 billion), against average analyst predictions of just 3 billion ($39.37 million). Sony's disappointing results from yesterday suddenly look a little less disastrous, with Panasonic expecting to lose well over three times as much come the end of the fiscal year.

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