August 20, 2014

Pioneer Leaving the TV Business

While Pioneer will remain in the home electronics business, focusing on audio products, DJ equipment and cable TV set-top boxes, they have, as reported in Twice.com, announced their intention to quit the television market by March 2010. They plan to emphasize “‘sound’ as they take advantage of extensive audio technologies and expertise developed over the years.

Pioneer said in a statement it is exiting the TV business because “recent market conditions have changed far more than initially anticipated, and Pioneer has decided to withdraw…after concluding there are no prospects for improving profitability under current conditions.” The company said it will continue to provide after-sales services even after the withdrawal from the market.

As with other Japanese consumer electronics makers, the combination of the worldwide recession and the exchange rate between the yen and the U.S. dollar and euro drove losses deeper than expected.

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