Panasonic Moving Out Of European Mobile Market, Post Writedown

Posted on Oct 29 2012 - 5:52am by Editorial Staff

Reuters citing two sources is reporting that Panasonic pulling out itself from the European mobile market in less than a year of working towards establishing itself. The Japanese company which back in 2005 has stopped its mobile phone sales overseas, returned to Europe in April with a plan high to sell 1.5 million smartphones this year, but prompting a possible writedown on the business, the company shutting down its shop in the region.

The company recently announced that its being raising $1.9 billion through a new bonds scheme in order to enhance the stability of financial position with keeping the long-term stabilization of debt in mind, all we hope now the move the company urges to take will help it out in one or two way, depending on the conditions that are laying over its head.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.