Panasonic eyes ending cellphone sales in Europe in FY 2012

OSAKA. October 26. KAZINFORM Panasonic Corp. is considering ending its slumping cellphone business in Europe by the end of fiscal 2012, sources familiar with the matter said Friday.
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The consumer electronics maker is leaning toward the idea as it lags behind rivals in marketing smartphones in the region, the sources said. Kyodo

The company, which earlier projected a group net profit of 50 billion yen for the current fiscal year, which runs to March 31, could fall into the red, as it may need to book about 100 billion yen in restructuring charges for its cellphone operations, according to the sources.

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