Matsushita Takes Profit Hit From Faulty Batteries
Matsushita today reported earnings for its second quarter, which included expenses for the infamous Nokia battery "advisory" recall.
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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