The result for the three months to Dec. 31 was worse than an estimated mean 106.9 billion yen profit from 10 analysts surveyed by Refinitiv<\/a>.
Panasonic<\/a> has shifted away from producing low-margin consumer electronics and appliances to making auto batteries for Tesla Inc<\/a>, production machinery, components and more recently providing supply chain management<\/a> services.
However those consumer appliances, which saw a boom in sales during coronavirus lockdowns, still account for a big chunk of revenue.
Panasonic stuck with its full-year forecast for annual profit of 370 billion yen - a figure in line with analysts' forecasts.
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