Panasonic cuts full-year operating profit outlook on China slowdown

Japanese electronics firm Panasonic Corp cut its full-year outlook for operating profit on Wednesday due to concerns over weaker home appliances sales in China amid an economic slowdown.

Panasonic forecast group operating profit of 410 billion yen ($3.42 billion) for the year through March, down from a previous estimate of 430 billion yen.

Panasonic said October-December operating profit increased to 119.8 billion yen from 113.3 billion yen a year earlier. That missed an average forecast of 122.9 billion yen in a Thomson Reuters survey of six analysts.