Addicted to music Posted May 14, 2022 Share Posted May 14, 2022 It looks like the market is shifting to portable devices for compact stereos that was once Onkyo core business https://asia.nikkei.com/Business/Companies/Classic-Japanese-audio-brand-Onkyo-files-for-bankruptcy 1 Link to comment Share on other sites More sharing options...
audiofeline Posted May 14, 2022 Share Posted May 14, 2022 The more users shift to portable devices/compact stereos the less the general population will know what true music reproduction sounds like. Which will be the writing on the wall for many classic audio companies. 1 Link to comment Share on other sites More sharing options...
Wilson71 Posted May 14, 2022 Share Posted May 14, 2022 Going bust over $24m? Geeze they must have been a very small company by the end. That's peanuts given the size I would have assumed they were. Very sad indeed. 1 Link to comment Share on other sites More sharing options...
Antipodean Brad Posted May 14, 2022 Share Posted May 14, 2022 This is very disappointing. 1 Link to comment Share on other sites More sharing options...
Wilson71 Posted May 14, 2022 Share Posted May 14, 2022 It's not as bad as it sounds, it's only a couple of their subsidiary companies. Here: https://www.strata-gee.com/onkyo-announces-two-subsidiaries-will-cease-operations-file-for-bankruptcy/ 1 1 Link to comment Share on other sites More sharing options...
Wilson71 Posted May 14, 2022 Share Posted May 14, 2022 Actually it may still be true, what I posted was from February, the OP's link was much more recent. Hope it's not true. Link to comment Share on other sites More sharing options...
TP1 Posted May 14, 2022 Share Posted May 14, 2022 Generally a parent company bails out subsidiaries making losses , otherwise creditors might not trust them. It doesn't look good for Onkyo that it couldn't pay creditors of its subsidiaries. Link to comment Share on other sites More sharing options...
Snoopy8 Posted May 14, 2022 Share Posted May 14, 2022 2 hours ago, Wilson71 said: It's not as bad as it sounds, it's only a couple of their subsidiary companies. Here: https://www.strata-gee.com/onkyo-announces-two-subsidiaries-will-cease-operations-file-for-bankruptcy/ If you read this, it is not as bad as what the title in this thread suggests. If true, there should be not change to Onkyo, Pioneer and Integra branded goods... Link to comment Share on other sites More sharing options...
rocky500 Posted May 14, 2022 Share Posted May 14, 2022 57 minutes ago, Snoopy8 said: If you read this, it is not as bad as what the title in this thread suggests. If true, there should be not change to Onkyo, Pioneer and Integra branded goods... An update to that article https://www.strata-gee.com/osaka-district-court-approves-onkyo-bankruptcy-petition-for-two-subsidiaries/ 1 Link to comment Share on other sites More sharing options...
Administrator Marc Posted May 14, 2022 Administrator Share Posted May 14, 2022 Yes not quite as it seems. Onkyo AV (really, the only division that concerns us) was already bailed out by Voxx International (Klipsch) and has resumed design, manufacturing and production. It's just the scraps that are being divvied up, sold off, or dissolved now. 2 Link to comment Share on other sites More sharing options...
t_mike Posted May 14, 2022 Share Posted May 14, 2022 Sounds like a way of offloading debt to me. Take a couple of subsidiaries that aren't performing well, or are unimportant to the brand, move as much debt as you can on them, then let them go under taking said debt with them. It's just a part of business 101. 1 Link to comment Share on other sites More sharing options...
wasabijim Posted May 18, 2022 Share Posted May 18, 2022 maybe it means a return to a core focus on audio playback and we'll see come trick new releases? Link to comment Share on other sites More sharing options...
wasabijim Posted May 24, 2022 Share Posted May 24, 2022 I came across this article (hopefully not linked already) that nicely sums the situation up https://www.lbtechreviews.com/news/hi-fi/onkyo-is-dead-long-live-onkyo 1 Link to comment Share on other sites More sharing options...
Recommended Posts