Japan’s Tech Companies Face Weak TV Demand

Japan’s top consumer electronic firms recovered faster than expected from March’s earthquake, allowing most of them to maintain full-year profit forecasts despite a weakening TV market and concerns about the outlook for the global economy.

Video game maker Nintendo was a standout disappointment as it unexpectedly swung to a quarterly operating loss, hit by sluggish sales of its 3DS handheld game player and a strong yen. It also slashed its full-year forecast to far below market expectations. 

Sony and Panasonic warned of weak TV sales, following Philips and Corning [GLW  16.00    -0.04  (-0.25%)] in highlighting sluggish demand. 

Global consumer confidence fell in the second quarter to its lowest level in 18 months as an uncertain economic outlook, a deepening euro zone debt crisis and rising inflation made people cautious, a Nielsen survey showed.

Read the rest of the story: Japan’s Tech Companies Face Weak TV Demand, Keep Forecasts.

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