German solar industry in crisis

Germany's solar power industry, until recently the world leader in the technology, is facing an unprecedented crisis, analysts say, outshone by cheaper competitors from Asia, most notably Chinese firms.

Q-Cells, the world's biggest solar cell producer, last week issued a far from glowing set of results, with losses of 700 million euros (S$1.43 billion) in the first half of the year.

As a result, the German firm said it would cut 500 jobs from its workforce of 2,600 and put others on part-time working arrangements.

For further information: Straits Times