They put Mr. Sparrow in charge of writing this article? Egads, he's a bit behind the times.
Posted on 05/15/2022 7:01:27 AM PDT by libh8er
Last year I wrote about how Sound United was planning to take over the business of Japanese audio brands Onkyo and Pioneer. The deal fell through for some reason and now news comes from Japan that might explain why the sale didn’t go through.
According to Nikkei Asia, Onkyo Home Entertainment filed for bankruptcy yesterday at Osaka District Court. Total liabilities have been stated as being around ¥3.1 billion which is around $24 million. The company is based in Osaka and was delisted back in August.
The company’s failure has been blamed on its inability to adapt to the fast-changing audio market which is increasingly software-based and revolves around streaming music rather than listening to it on physical formats like CDs. More of us are using our smartphones for listening to music and even watching films.
Onkyo’s two subsidiary companies that handled the manufacturing of speakers and other equipment for third parties had already filed for voluntary bankruptcy in March of this year.
Since then, Onkyo has ceased its functions. The company told Nikkei that it: “tried to maintain business on a smaller scale but could not stop its cash-flow problems from worsening.”
The much-revered Onkyo brand has a strong reputation with audiophiles and was founded in 1946. In its heyday, the company was well known for its range of amplifiers, CD players, tuners, AV receivers and all-in-one audio systems. However, with the shift towards consuming music on smartphones and the shift towards multi-room audio systems, the company witnessed a steady drop in revenues.
(Excerpt) Read more at forbes.com ...
They put Mr. Sparrow in charge of writing this article? Egads, he's a bit behind the times.
Below was just the receiver. Then you had your tape decks, turntables, CD players, amplifiers and speakers to mess around with. It was also an art rigging your antenna to pick up the AM/FM radio stations.
BUMP.
I have several Onkyo components. Good stuff that you can pick up cheap now.
However, with the shift towards consuming music on smartphones and the shift towards multi-room audio systems, the company witnessed a steady drop in revenues.
Like everything else, we are in a fashion industry. The more change, the quicker change, the better. Quality has been replaced with quantity.
I don’t like it and don’t think it is good but that is just me. It creates instability and reduces independent thinking.
One of the tenants of conservatism is change with a purpose, not change for the sale of change. Conservatives are not anti progressist, but move more slowly.
Was this the result of luck or mgt?
These devices were not only beautiful looking on the outside with their brushed aluminum front panels, and real walnut side panels; the interiors were equally beautiful.
Wow ... that component brings back memories.
The design looks elegant even 50 years later!
RIP Onkyo Inc :-\
When I moved into my first apartment, the stereo I bought cost more than my car. Those ESS AMT-1A speakers rocked the building.
I have a 2230. Nice amp.
My dad had a Sansui rack system. It looked as great as it sounded !
Classic Pioneer look.
I bought my 1st pioneer receiver, turntable, and speakers in 1977. I thought 100 watts was a sweet sound along with vinyl. It lasted until 1995 when the power supply gave out. A great sound.
WHAT? No American Taxpayer-Dollar BAILOUT from Brandon & Crew?
*SMIRK*
That’s it!
I don’t even know how Onkyo could “adapt”. Onkyo was selling quality audio - high fidelity. That’s not what sells, today.
It’s hard for me to believe, but antique stores are now where I go to look for this kind of stuff.
Those were the days for sure. One of my first investments after graduating from college was a state of the art Yamaha receiver, RTR speakers and a Technics turntable. I added tape decks and amplifiers as I went along.
Your Phone <— You —> Life
More and more it seems like folks will only get to choose one.
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