Panasonic’s Q1 profit reels from US-China trade tension and Tesla’s woes
Japanese electronics company reports its operating income in the three months ended June plunged 44%
31 July 2019 - 16:37
Tokyo — Panasonic reported its first-quarter operating profit nearly halved, as Sino-US trade tensions dampened demand for its components business in China and the battery business with Tesla remained in the red.
The trade dispute is making it more painful for Panasonic to execute its strategy of shifting focus to corporate clients and automakers from consumer electronics, after Tesla’s production delays already posed challenges to the goal...
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