Latest in Breaking news

Image credit:

Pioneer officially leaving the TV biz by March 2010, focusing on audio

Richard Lawler, @Rjcc
February 12, 2009
Share
Tweet
Share

Sponsored Links

Bad news Kuro fans, the rumors were true and Pioneer is leaving the TV manufacturing business. On the upside, the restructuring deadline is March 2010, so a predicted net 130 billion yen ($1.44 billion) loss shouldn't be enough to get between you and the plasma HDTV of your dreams. The company's U.S. and U.K. plants are shutting down by April and February of this year, respectively, and product development for TVs beyond what's currently on the market is ending, seeing no prospects for improving profitability even after combining plasma efforts with Panasonic and LCDs with Sharp. Overall, there will be 10,000 fewer full time and temporary Pioneer employees than there were at the end of last year, while pay and bonuses for execs have been cut. The future for Pioneer? Mostly car audio, including in-car Blu-ray players and networked electronics, while its home electronics business focus on audio, DJ equipment and cable TV boxes, with a focus on using its expertise in improving sound. All other ugly details are contained in the press release, mourning the passing of another plasma supplier is in the comments.

[Via Bloomberg and AV Watch, thanks Carl H.]



All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share

Popular on Engadget

Jabra's ANC update for the Elite 75t earbuds is now available

Jabra's ANC update for the Elite 75t earbuds is now available

View
NASA shares first images from OSIRIS-REx's touchdown on Bennu

NASA shares first images from OSIRIS-REx's touchdown on Bennu

View
The Morning After: 2020 iPad Air review, and RIP to Quibi

The Morning After: 2020 iPad Air review, and RIP to Quibi

View
Hummer EV 'supertruck' has a UI built on Unreal Engine and runs Android

Hummer EV 'supertruck' has a UI built on Unreal Engine and runs Android

View
Quibi confirms it's shutting down

Quibi confirms it's shutting down

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr