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Smarting from a difficult financial quarter and earthquake damage at a major factory, Japanese conglomerate Sanyo has asked domestic employees to buy goods made by the company. Executives have been asked to buy about $20,000 worth of goods, while regular employees have been asked to buy $2,000 worth of goods. Sanyo, one of Japan's largest manufacturers of digital cameras, also lowered camera shipment estimates.
On Monday, the company reported a $170 million loss, compared with a profit of about $95 million, for the quarter ended Dec. 31. Revenue came to $599 million. Sanyo's earnings were hit by an earthquake in the Niigata region in October, which forced the company to suspend operations at its chip facilities.
Hayashi Sakawa of CNET Japan reported from Tokyo. CNET News.com's Michael Kanellos reported from San Francisco.
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Sanyo alternative - big mistake. Its poor construction and
'plasticy' feel left me an anti-Sanyoite for life. iPod competitors
take heed... do it right or not at all.