Sharp Corp. is said to be in the process of selling the land under one of its major factories in Osaka, Japan, in a bid to raise cash. The transaction, reported by the Nikkei, is said to be happening as early as the current fiscal year.
Asian Connection
Good News: Sharp is Forecast to Lose 2 Billion Yen in Fiscal 1st Quarter
Report Says Sharp Plans to Withdraw from Consumer Electronics & Solar Businesses in Europe
In a new report out of Japan, the Nikkei is forecasting that Sharp Corp. will book a net loss of around ¥2 billion ($19.6 million) for their fiscal first quarter (April – June) this year. The report further says that the company plans to exit both the consumer electronics and solar panel businesses in Europe in order to refocus their efforts on other markets.
Why is a ¥2 billion loss good news? See more below… [Read more…] about Good News: Sharp is Forecast to Lose 2 Billion Yen in Fiscal 1st Quarter
Gibson Brands Opens Showroom in Tokyo
Gibson Brands (née Gibson Guitars) announced last week that it has opened a showroom in Tokyo, Japan that it calls a “pioneering music lifestyle concept showroom.” Although Gibson Brands owns many different brands, this particular showroom focuses on just three of them: Gibson Guitars, TEAC and Onkyo.
See more on this unique showroom… [Read more…] about Gibson Brands Opens Showroom in Tokyo
Sony, Desperate to Cut Overhead, Launches Early Retirement Incentive
Sony Corp., the troubled Japanese giant consumer electronics company, has launched an internal early retirement program in a bid to cut overhead in its headquarters. The company has already announced major worldwide staff cutbacks, but it hopes this new incentive for headquarters staff will cut administrative costs by about 30%.
See more about this newly announced initiative… [Read more…] about Sony, Desperate to Cut Overhead, Launches Early Retirement Incentive
Pioneer Sells AV Business to Private Equity Company & Onkyo
BREAKING NEWS
We first told you about Pioneer’s plans to sell off their struggling AV division just last month in a SYNCH Breaking News exclusive. Now word comes out of Japan as to the identity of the buyer for this business – a group that includes a private equity company and Onkyo.
See some very interesting details on this announcement… [Read more…] about Pioneer Sells AV Business to Private Equity Company & Onkyo
Five Former Foxconn Employees Indicted in Kickback Scandal
Foxconn Technology Group, a division of Hon Hai Precision Industry Co. and a key supplier to major brands like Apple, Inc. and HP (formerly Hewlett Packard), had five former employees indicted by Taiwanese prosecutors on Wednesday in a major kickback scheme involving illicit payments from suppliers. The announcement of the scandal is sure to cause significant embarrassment for the company.
See more on this dramatic announcement from the Taipei District Prosecutors Office… [Read more…] about Five Former Foxconn Employees Indicted in Kickback Scandal
Thanks Boys, We’ll Take It From Here; LG Says It’s Solved OLED Production Issue
Just days after two major promoters of OLED, Samsung Electronics and Sony Corp., announced a pullback of their support due to serious production difficulties causing low panel yields and low profitability – word comes out of South Korea that LG Electronics has solved the puzzle on how to profitably produce OLED panels. And while their competitors are shifting their efforts back to 4k Ultra HD LCD TVs, LG is ready to ramp up a major commitment to OLED.
This could be good news indeed for fans of OLED technology…How did LG do it?… [Read more…] about Thanks Boys, We’ll Take It From Here; LG Says It’s Solved OLED Production Issue
Pioneer Pulls Out of AV
BREAKING NEWS
In yet another sign of dramatic changes afoot that will literally change the face of the TECH industry for years to come – news comes out of Japan that Pioneer Corp. is planning to exit the AV business by selling off its entire AV division. This news follows a similar decision made by JVC Kenwood earlier this year to pull out of consumer electronics to focus on more commercial business.
Pioneer is said to be in active negotiations with Funai Electric, a large OEM manufacturer who recently took over Philips video business, as well as other potential suitors.
Does this deal make sense? Or has the AV world gone crazy?… [Read more…] about Pioneer Pulls Out of AV
Sony Puts OLED on the Back Burner; Ramps Up Deeper 4K Commitment
Just days after a similar announcement from South Korean rival Samsung Electronics, Sony Corp. has said it will put OLED technology on the back burner – scaling back development efforts for the forseeable future. Instead, the company says it sees a greater immediate opportunity with 4K Ultra HD LCD TVs and will work to expand its assortment in this product segment.
While Sony puts OLED on the back burner, it is ramping up its 4K commitment now… [Read more…] about Sony Puts OLED on the Back Burner; Ramps Up Deeper 4K Commitment
JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
In a regulatory filing this month, JVC Kenwood Corp. said it will take dramatic and bold steps to literally change its very core – the operating structure of the company – such that it fundamentally changes the way the company is run. This changing-our-DNA move marks a deep expansion of its previously announced business-spectrum initiatives to move away from its weakening consumer electronics businesses into more commercial enterprises by ensuring that the way it manages itself is completely changed as well.
