JVC is having a hard time keeping up with what the consumer wants these days and so they have been posting some pretty big losses. Year after year, JVC losses increase by a lot, they have risen from $75 million to a whopping $455 million. The main culprit for the loss is their failing HDTV department. In an effort to gain more some profit, the are being forced to make some changes.
First, they will move their chief production areas to less expensive places. This means that the factory in Scotland and Japan will be moved to Poland and Thailand. By doing this, they hope to save some money with reduced operating expenses. Also, they plan to focus most of their efforts on the profitable big screen TV area, like 42-inches and up. These changes will be limited to the Japanese market for the time being, no word on what they plan to do in the American market and how to gain more profits in America.
JVC blames the losses partly on getting rid of unprofitable business firms, and they say that their TV department needs to go back to the drawing board because people aren’t interested in rear-projection and tube TV’s, but rather LCD’s and flat panel screens.
Via [Electronista]
Keep up with the latest gadget goodness! - Subscribe to our feed →
Tags: cool gear, electronic toys, robots, gps
