In just the last two days, Japanese and U.S. press outlets are releasing a slew of stories of Sharp Corp.’s impending doom in the form of a restructuring announcement that isn’t expected to be officially released until May. Nonetheless, multiple reports have emerged from a wide range of media sources including the Nikkei and Reuters news services with a relatively wide range of estimated job cuts – all citing unnamed sources.
Asian Connection
Sony’s Tightened Partnership with Best Buy Credited for Biz Turnaround
Newly Spun-Off TV Division May Show a Profit for 1st Time in 10 Years
In a new report out of Japan, Sony’s TV business is said to be expected to report an operating profit this fiscal year – its first after ten years of losing money. Due to an improved situation in the U.S. market, the report credits the turnaround in Sony’s U.S. results largely as a function of its tightened partnership with retailer Best Buy.
But the report featured the subheading ‘Outlook Remains Unclear’… [Read more…] about Sony’s Tightened Partnership with Best Buy Credited for Biz Turnaround
Sharp Officially Announces Its Exit from the Canada TV Market
BREAKING NEWS
Canadian tech industry website WiFiHiFi (wifihifi.ca) announced today that it has confirmed that Sharp Corp. will exit the Canadian TV market. Much in line with our recent reporting on the troubled brand, this is probably just the first shoe to drop…there will most likely be more.
See more on what WiFiHiFi has learned about the situation… [Read more…] about Sharp Officially Announces Its Exit from the Canada TV Market
Bloomberg Reporter Asks ‘Why is Sharp Still With Us?’
We’ve been reporting for a while now on the epic survival struggles of some of this industry’s biggest brand names in Japan…most recently Sharp Corp. Some of the changes we’re seeing now were unforeseeable even 24-36 months ago – Sony spinning off divisions, JVC Kenwood pulling out of the consumer business, Pioneer first shutting down A/V, then selling that division to Onkyo, Toshiba pulling out of TV biz, Panasonic dropping consumer business, and on and on…
Now a reporter for the respected Bloomberg View asks, “…why Sharp should still be in business?”
See more on this surprising declaration and criticism of the practices of Japan, Inc… [Read more…] about Bloomberg Reporter Asks ‘Why is Sharp Still With Us?’
Sharp to Launch Major, and Painful, Restructuring
Out of Osaka, Japan we learn that Sharp Corp. is about to embark on a major restructuring of its business that will likely change the company in fundamental ways. Plans call for closing domestic factories – a first for Sharp – staff cuts, and a possible exit from a major business segment for the company. Sharp is also seeking to raise capital, something that is not easy for a struggling company.
See more on this new announcement from Sharp… [Read more…] about Sharp to Launch Major, and Painful, Restructuring
Despite Scary Sales Slide, JVC Kenwood Posts Big Profit Gains
JVC Kenwood Corp. released their financial results for the first 9-months of the current fiscal year (ending March 31st) and the company points to a tremendous swing in profits as proof of the positive impact of their painful, multi-year business restructuring efforts. The company completely turned around a negative profit trend – booking an operating profit, an ordinary profit…and a ¥500 million ($4.2 million) improvement to a modest net loss.
See more on these results which occurred despite a continuing sales decline… [Read more…] about Despite Scary Sales Slide, JVC Kenwood Posts Big Profit Gains
After Fighting Idea for Years, Sony is Ready to Dump TV, A/V, & Smartphone Businesses
In a revealing presentation with the press yesterday in Japan, embattled Sony CEO Kazuo Hirai told the media that the company is finally ready to consider alternatives for its TV, A/V, and smartphone businesses, including exiting them. This is a stunning turnaround in strategy, not just for the inventor of the Trinitron picture tube, but for Hirai himself who had previously identified their TV and smartphone businesses as a core categories when he first took over as CEO in 2012.
See more on Sony’s strategy to turn around their business…which has many skeptics… [Read more…] about After Fighting Idea for Years, Sony is Ready to Dump TV, A/V, & Smartphone Businesses
S. Korea Stakes Claim as World’s #1 TV Supplier
New market data confirms what you probably already suspected, South Korea is the #1 supplier of TV products to the world. Home to both Samsung Electronics and LG Electronics, S. Korean media is calling itself the ‘Country of TV.’
See some surprising new global TV market data… [Read more…] about S. Korea Stakes Claim as World’s #1 TV Supplier
Sharp Considers Dropping TV Biz in N. America
“Sharp has fallen on hard times again,” declared an at times shocking report in the Nikkei this week. The statement comes in the wake of the company announcing on Tuesday that, rather than their forecast of a profit for the current fiscal year, the company will in fact book a net loss. And this disappointing news will almost certainly drive the call for a much more drastic restructuring than has been accomplished in the past – with the company reportedly considering pulling out of the television business in North America altogether.
See more on this stunning reversal in Sharp’s fortunes… [Read more…] about Sharp Considers Dropping TV Biz in N. America
Toshiba Takes A Hike – Drops TV Biz Everywhere But Japan
Toshiba Corp. announced late yesterday that it has decided to exit the TV business in all export markets, including North America. The move shocked some, but those who follow the trends in the TV business were not surprised at all as Japanese manufacturers have struggled to maintain viability in a low profitability category with declining demand.
