Panasonic has seen demand for its TVs and smartphones ditch, leading to a 6-percent drop in consolidated sales year-on-year and a 141.9 billion yen ($1.82bn) loss over the last three months. Strong Blu-ray player sales could not offset a slump in interest around Panasonic flat-panel TVs and Sanyo digital cameras and other consumer electronics, according to the company's latest financial results, with full year losses expected to be in the region of $5.4bn. To save money, Panasonic will severely curtail its own flat-panel display production, shuttering some lines and stepping down others, and instead source panels from third-party suppliers.
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