Panasonic and other Japanese exporters are struggling under the weight of a strong yen and weak global economy while having to contend with fierce competition from tough competition from companies like Samsung Electronics and Apple. Photo: AFP

Panasonic to lose US$9.6b this year

Panasonic said Wednesday it would book a mammoth US$9.6 billion net loss in the fiscal year to March as the Japanese consumer electronics giant undergoes a major overhaul of its troubled business.