Seems, 2012 would be challenging for Japanese consumer electronics giant Panasonic. As per latest chunk of information, Panasonic is expecting 780 billion (US$10 billion) net loss for fiscal 2012 along with other downward revisions for its sales and profit forecasts.

Trusted sources informed, the US$10 billion loss is nearly double as compare to its previous forecast of 420 billion yen (US$5.5 billion).

Also, the sales forecast for fiscal 2012 has also been revised. Earlier, it was 8,300 billion yen (US$108.9 billion), which is now revised to 8,000 billion yen (US$104.9 billion) due to significant sales declines in many digital products. The operating profit is expected to merely 30 billion yen (US$393.6 million) from the previous forecast of 130 billion yen (US$1.7 billion).

Panasonic credited the latest sales decline to the global economic slowdown and financial uncertainly because of European debt crisis, extensive supply chain disruption from Thailand floods in October last year along with strong yen.

Fumio Ohtsubo, President at Panasonic has stated that the company will soon accelerate its profit structure. In addition, he make sure that the company will achieve a V-shaped performance improvement in the next business year.

Market watchers added, in order to cushion itself from tumbling market demands, the consumer electronics giant Panasonic is now mulling to explore new verticals in Indian market  including healthcare, security, energy and education along with beauty care and laptop businesses in this year.

Let’s hope Panasonic will soon recover its lost sheen.