We store cookies, you can get more info from our privacy policy.
GC

Matsushita Expected to Post Heavy Losses

by Steven Rodriguez - April 9, 2003, 10:23 am EDT
Total comments: 2 Source: Yahoo/AP

Apparently, the Panasonic Q isn't shiny enough.

We know them as Panasonic, and Nintendo knows the company as the one responsible for the disc drive inside the GameCube. However, the AP is reporting that the Japanese electronics giant will be posting a ¥23.5 billion ($195 million) loss for their last fiscal year. What makes this worse for the firm is that they expected to gain ¥25 billion ($207 million) in the same period of time.

The reasons for the losses include declining stock prices and bank shares, along with a few Japanese tax law changes. It would be the first time in the company's history that they have recorded back-to-back years in the red.

There was no mention of whether or not the Panasonic Q DVD/Game hybrid was a major factor in their financials. Regardless, you can read all about Matsushita's troubles in this article.

Talkback

MorgonApril 09, 2003

I think if they would have brought the Q stateside, they would have seen a lot more revenue.

While most people (younger age, not to be cliche) would probably have stuck to the standard cube looks, I'm willing to bet there are a large number of gamers, mostly older, with their own choice of entertainment center schemes, that would have purchased the Q - and of course, didn't import because of the outrageous costs, or they just didn't know about it.

Of course, this is the case for a LOT of Japanese items, game-related and not. (And alternatively, a lot of Japanese items that just need to stay over there face-icon-small-wink.gif )
We're just as quirky as them, and while the Q wouldn't have made the most significant impact versus the standard Cube design... who, with their own free choice, WOULDN'T want a shiny, mirrored Q to play their cube games? That thing is just slick-looking, no matter how you slice it.

GamefreakApril 09, 2003

I bet the younger dudes would flock to the hip looking Q if it came to the US. Too bad most don't know what it is....stupid Panasonic...

lol, I find it funny how everyone is recording losses except the videogame companies....
Nintendo may not be doing well compared to last year, but it still scored a $500 million+ net profit, while these huge (well Nintendo is huge too...) companies like Matsushita are posting 100 million dollar losses.....

So, why is the videogame industry getting bigger in a time where everything else is getting smaller? Do people rely on their copies of GTA to comfort them while they lose their jobs? Blame the pedestrians!

Got a news tip? Send it in!
Advertisement
Advertisement