Japanese electronics company Panasonic says it forecasts a record net loss of 780 billion yen ($10.2 billion) for the fiscal year through March amid falling sales of digital products and production disruptions from flooding in Thailand.

That is nearly twice the annual net loss of 420 billion yen it had projected in October.

It is also more than its past record net loss of 427.7 billion yen logged for the fiscal year through March 2002, when the company was still Matsushita Electric Industrial Co.

For the October-December quarter, Panasonic posted a net loss of 197.6 billion yen ($2.6 billion) on Friday, The Associated Press reported.