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Matsushita Takes Profit Hit From Faulty Batteries

October 30, 2007 in Wireless Industry News

Matsushita today reported earnings for its second quarter, which included expenses for the infamous Nokia battery “advisory” recall.

MBL: Most Boringest Logo.

Matushita takes the award for least impressive company logo.

Among the highlights:

In the second quarter, Matushita made $573.8 million dollars in profit from sales of $19.93 billion dollars. The numbers were less than last year’s Q2 take of almost $700 million dollars.

Charges for recalling 46 million Nokia BL-5C batteries, repairing damage caused by a fire in one of the company’s battery factories, and fixing miscellaneous parts in products like massage chairs came to roughly $155 million US dollars.

On the bright side, the Japanese conglomerate sold a bunch of flat-panel TVs, semiconductors, cameras, and air conditioners which contributed to a 1 percent increase in sales.

Matsushita Reports Declining Profit – Forbes

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