Panasonic Corp announces its quarterly loss of 197.6 billion yen ($2.59 billion) and forecast a record 780 billion yen net loss in a year. The week demand of Panasonic TVs and restructuring operations cost are major reasons for this loss.

For the October and December month period loss was at maker of Viera TVs compared with a consensus estimate net loss of 8.4 billion yen, the information is based on a Smartestimate of three analysts on Thomson Reuters I/B/E/S.

Poor demands of TVs in the market, stiff competition, cost of shuttering some panel production and laying off workers, hurts the company.

Company shares fallen by 45 % in last one year that competes with Sony Corp, Samsung Electronics Co ad Sharp Corp. On Thursday Company’s shares closes at 30 year’s lowest price.