If Japan's electronics giants, which again posted deep losses this week, want to beat Samsung, LG and Apple, they need to quickly overhaul their business strategies and carry out further cost cuts, analysts said Friday, but prospects appear bleak that true soul-searching will come anytime soon.
Panasonic Corp., Sharp Corp. and Sony Corp., once symbols of Japanese strength, released dismal financial results for the first half of this business year to March 31 as well as dire forecasts for the full year.
In addition to their weakened core businesses, shrinking demand and price drops for mainstay products such as TVs, solar panels and LCD panels, experts said the companies failed to focus on their profit drivers amid harsh global competition.