Pioneer exits from TV Business
Pioneer exits from TV production - an area in which the company developed some of the highest technology in the industry and will now tightly focus on its more financially successful car navigation and in-car entertainment division - a business that is likely to be hit hard by the continuing collapse of car sales in America, Europe and Japan.
Pioneer will no longer manufacture televisions and plans to spin off its DVD player business into a joint venture with Sharp. The company is reportedly exiting the TV business rather than continue to incur losses in that division. This latest report comes a few months after Pioneer announced it anticipated huge losses at the end of its fiscal year in March and plans to lay off 2,000 workers.
Pioneer had been a respected manufacturer of plasma televisions, but the company officially announced that it would no more manufacture the plasma panels anymore because of skyrocketing costs and mounting losses in its TV division.
The worldwide recession is getting more intense and depressing day by day, with Pioneer being one of the latest victim.
The company is forced to layoff around 10,000 jobs this year and plans to eliminate several thousand of its groupwide jobs (say around 40,000) by the end of March 2010.
Now-a-days, many people are switching over to Plasmas but competting with the leading companies like Sony, panasonic, LG, Samsung is difficult and I think it's better to shutdown than facing losses....
Pioneer exits from TV production - an area in which the company developed some of the highest technology in the industry and will now tightly focus on its more financially successful car navigation and in-car entertainment division - a business that is likely to be hit hard by the continuing collapse of car sales in America, Europe and Japan.
Pioneer will no longer manufacture televisions and plans to spin off its DVD player business into a joint venture with Sharp. The company is reportedly exiting the TV business rather than continue to incur losses in that division. This latest report comes a few months after Pioneer announced it anticipated huge losses at the end of its fiscal year in March and plans to lay off 2,000 workers.
Pioneer had been a respected manufacturer of plasma televisions, but the company officially announced that it would no more manufacture the plasma panels anymore because of skyrocketing costs and mounting losses in its TV division.
The worldwide recession is getting more intense and depressing day by day, with Pioneer being one of the latest victim.
The company is forced to layoff around 10,000 jobs this year and plans to eliminate several thousand of its groupwide jobs (say around 40,000) by the end of March 2010.
Now-a-days, many people are switching over to Plasmas but competting with the leading companies like Sony, panasonic, LG, Samsung is difficult and I think it's better to shutdown than facing losses....
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