The Nikkei reported this week that Sony Corp. has finally taken a bold step to reorganize its business by putting its VAIO computer division up for sale. According to the report, the company is in negotiation to offload the division to Japan Industrial Partners (JIP), a Japanese investment company.
Manufacturers
With Huge Increase in Fiscal YTD Net Loss – JVC Kenwood Moves to Cut Staff & Buy a Company
JVC Kenwood Corporation released their year-to-date results for the first nine months (April 1, 2013 – December 31, 2013) of the current fiscal year at the end of last week. The results clearly portrayed a company in a struggle to turn their flagging business around. Although 9-month sales showed a 2.6% increase to ¥230.3 billion ($2.3 billion), up from ¥224.5 billion ($2.2 billion) last year…the company also booked a net loss that also increased more than four-fold – from ¥1.4 billion ($13.8 million) last year to ¥5.7 billion ($55.7 million) now.
See more on both JVC Kenwood’s results…and their moves to rectify the situation… [Read more…] about With Huge Increase in Fiscal YTD Net Loss – JVC Kenwood Moves to Cut Staff & Buy a Company
Taiwan’s Foxconn Looks to Build Factories in the U.S. – Six States Compete for Selection
Foxconn Technology Group, a Taiwanese company with manufacturing plants in China, and the world’s largest manufacturer of electronics – is looking to build one or more factories here in the U.S. The company, mostly known as the primary manufacturer of Apple’s popular iPhone, is in negotiations with Arizona and Colorado, according to a report by Bloomberg. But four other states have thrown their hats into the ring as well.
See more on this turn of events, a Taiwanese company building factories in the U.S…. [Read more…] about Taiwan’s Foxconn Looks to Build Factories in the U.S. – Six States Compete for Selection
Social Media’s Buzzing about Savant Systems’ New CEO
Savant Systems, LLC announced on Tuesday that it has hired William J. Lynch as its new CEO. Who is Lynch, you ask? He is the ex-Barnes & Noble CEO who left there in the middle of last year. The Savant announcement surprised many as, on paper, Lynch looks like an unlikely candidate for the role.
Since the announcement, social media has buzzed about this appointment. See more… [Read more…] about Social Media’s Buzzing about Savant Systems’ New CEO
It’s Official, Moody’s Says Sony is ‘Junk’
In a move that has been highly anticipated or, depending on your point of view, highly dreaded, Moody’s Investors Service cut its credit rating on Sony Corp. by one notch, dropping it below investment grade – taking it to “junk” status, in industry parlance. The downgrade was made on Monday and it is significant in that it symbolizes the continuing struggles of the company as it to tries to improve its fortunes – so far with mixed results.
See more on this huge announcement sure to be the bane of Sony management… [Read more…] about It’s Official, Moody’s Says Sony is ‘Junk’
After a Short Pause, Another D+M Group Executive Leaves the Company
BREAKING NEWS
Petro Shimonishi, once Senior Global Business Team Leader of Headphones & Accessories for D+M Group, announced on Facebook today that she has left the company for a new role with a new company. The announcement clearly surprised many of her friends and colleagues, as was evidenced by their almost universal shocked reaction.
See more on this key executive departure from D&M… [Read more…] about After a Short Pause, Another D+M Group Executive Leaves the Company
Sharp Ends Production of Solar Panels at Tennessee Factory – 300 to Lose Their Jobs
Sharp Corporation announced that it has decided to end production of solar panels at its factory in Memphis, Tennessee, the Nikkei reported today. As a result, 300 jobs will be eliminated at the facility.
See more on this unexpected announcement from Sharp… [Read more…] about Sharp Ends Production of Solar Panels at Tennessee Factory – 300 to Lose Their Jobs
JVC Kenwood Launches 1st Initiative in New, More Commercial Business Strategy
Just one day after we reported that JVC Kenwood was turning away from the Consumer Electronics business and choosing to instead pursue more commercial enterprises – the company announces its first major partnership in this new operating model. The company has partnered with Europe’s Airbus Defence and Space in a major new initiative to develop a public safety wireless broadband technology for the North American and European markets.
Learn more about the major new partnership for the company… [Read more…] about JVC Kenwood Launches 1st Initiative in New, More Commercial Business Strategy
This is Big: JVC Kenwood Turns Away from Consumer Electronics; Picks Commercial Biz Instead
In a big announcement in Tokyo today, JVC Kenwood CEO Haruo Kawahara said the company will drastically overhaul its business – more so that previously announced – turning away from consumer electronics and towards more commercial businesses, according to the Nikkei. The CEO, in his most specific comments since the company revised its forecast from a profit to a loss for the current fiscal year, is signaling a significant sea change for the company…
See more on this surprising announcement from the struggling company… [Read more…] about This is Big: JVC Kenwood Turns Away from Consumer Electronics; Picks Commercial Biz Instead
The DaVinci Group Adds New Sales & Distribution Partners
The DaVinci Group (TDG) announced that it has added new partners to its sales representative and distribution network, expanding its sales force backbone to help better serve dealers and integrators as the company continues to grow. The Ontario, CA-based company launched at the end of last year and says it has experienced rapid growth through the end of 2013. This growth continues to accelerate as the company brings more regions on board,
