Oh shit... I use to love their products. But another microcosm of Japanese economy and industries.... stuck in the past and trying to squeeze remaining profits from past glories.
Classic Japanese audio brand Onkyo files for bankruptcy
Maker of stereos and speakers doomed by market shift to streaming and smartphones
KENTO HIRASHIMA, Nikkei staff writerMay 13, 2022 23:40 JST
OSAKA -- Japanese audio equipment maker Onkyo Home Entertainment filed for bankruptcy at Osaka District Court on Friday, with total liabilities of around 3.1 billion yen ($24 million).
The Osaka-based company was delisted in August. It was unable to keep pace with changes in how people listen to music, as users shift from audio equipment like compact stereo systems -- once Onkyo's core business -- to devices like smartphones for streaming services.