Although Pioneer has small stakes in both companies, it is effectively exiting the AV equipment market. The company also announced plans to cut 2,200 jobs, or about one-tenth of its group-wide workforce. Over the past few months, Pioneer has made a number of changes to keep the brand in the changing home AV market. Johnston said, «Starting today, Pioneer will integrate its operations into a new company with Onkyo. Onkyo would be the majority shareholder; Pioneer would be a minority shareholder. Within the next 30 days, Onkyo and Pioneer will finalize the agreement, and by the end of our fiscal year in March 2015, Pioneer and Onkyo will have a full integration plan. Pioneer has developed a business model that will transform it into a solutions and services company focused on a variety of mobility issues. As a first step, we introduced the voice-activated conversation driving partner NP1 to the consumer market. The NP1 uses an AI voice assistant and wireless connectivity to provide a safer and more comfortable driving experience. Over time, the device adds functional improvements through live updates and learns driver behavior and preferences, making it an even smarter device tailored and personalized to the driver.
The NP1 is powered by Piomatix, a local AI platform for mobility that offers broader applications for exciting new services and solutions. Home audio fans will see the familiar Onkyo, Pioneer and Elite nameplate on AV receivers for some time to come. Warranties will continue to be respected and AV receivers and other equipment will continue to be manufactured, provided they can fish the chips needed for assembly and repair. Who knows, maybe Onkyo will breathe new life into Voxx and live and even thrive in the lighter and more adaptable form that today`s market demands. TOKYO — Another renowned audio equipment brand will be silenced forever if Pioneer goes out of business to focus on automotive equipment, due to declining demand for high-end audio components. Onkyo told Nikkei Asia that he was «trying to keep the business on a smaller scale, but couldn`t stop his cash flow problems from getting worse.» According to Yuji Masaki, head of the research department at Teikoku Databank`s regional office in Osaka, Osaka said: «This has hindered the company`s ability to introduce new products. Or to be able to deliver the current ones. In addition, the lack of chips neegated their ability to scale their OEM manufacturing business, as OEM customers also couldn`t get enough chips for their projects. Current Sound United CEO Kevin Duffy will lead the expanded company. What`s left of Onkyo will still have the rights to use the Onkyo and Pioneer names for their Digital Life and Embedded Audio teams, but it`s clear that Sound United will have the upper hand. The acquisition is still subject to approval, including from Onkyo shareholders at an annual meeting on June 26.
In March 2010, Pioneer ceased production of televisions, as announced on February 12, 2009. [2] On 25. In June 2009, Sharp Corporation agreed to form a joint venture for its optical business, Pioneer Digital Design and Manufacturing Corporation. [3] In September 2014, Pioneer agreed to sell Pioneer Home Electronics (Home A/V) to Onkyo, and in March 2015, Pioneer sold its DJ equipment business to KKR, resulting in the creation of Pioneer DJ as a separate entity independent of Pioneer. In June 2021, Voxx International announced that it had entered into a licensing agreement with the Pioneer and Pioneer Elite brands «for all markets except China» as part of the acquisition of Onkyo. [4] Here is the business plan. Fundamentally, Pioneer and Onkyo will join forces and resources to better keep pace with the rapidly changing audiovisual market. Johnston said it would be impossible for Pioneer to do it alone. The Pioneer brand will continue, AV receivers, Blu-ray players, speakers, etc. will not disappear.
Onkyo will follow the same path with its home audiovisual products. Johnston quickly realized that maintaining distinct and distinct brand identities would be critical for both sister companies. Over the years, Pioneer has collected a wealth of mobility data, video data powered by smart cameras, and location data. We use this data to develop and deploy cloud solutions and play an important role in ensuring greater road safety. Our Vehicle Assist service communicates with navigation systems and dashcams on board commercial vehicle fleets and provides sophisticated fleet management, including vehicle tracking and dispatch and driver behavior monitoring. We offer this service to many corporate customers who operate commercial vehicles in the areas of shipping, sales and maintenance. «[Onkyo] tried to stay alive through various businesses like headphones and headphones, but the measurements were halfway. [Their divestment of companies] was also a step backwards.
This time, however, Pioneer is restructuring its AV equipment business to focus on automotive electronics, Totani said. He said the company would increase direct sales to automakers, a weak area, by leveraging the strength of its popular carrozzeria brand and the cloud computing technologies it has acquired with car navigation systems. He is betting that automotive electronics will grow dramatically with the start of the smart car era. The Japanese company announced on Tuesday that its consumer AV equipment business, which includes Blu-ray Disc players, will be spun off and integrated into Onkyo. In addition, the DJ Equipment business will be sold to US investment fund Kohlberg Kravis Roberts. «We sincerely apologize for the inconvenience caused to our business partners, shareholders and related parties.