BREAKING NEWS: Powermove Snare Pioneer AV, Onkyo Tipped To Follow
Last year Pioneer became the third largest shareholder in Onkyo Corporation with insiders now tipping that the Onkyo business which is also part of the Gibson Brands portfolio will shift from Amber the current distributor this year.
Under the new arrangement Pioneer has integrated its home AV business, including phone and headphone-related business with Onkyo Corporation, effective March 2, 2015.
In Australia Pioneer’s Home AV Business will be transferred to Onkyo Corporation.
Pioneer executives said that both parties have been working closely together and are pleased to announce the appointment of Powermove Distribution Pty Ltd as the new Australian distributor of Pioneer branded AV and headphone products.
Effective March 2, 2015, Powermove will assume control of all contracts and inventory, directly related to Pioneer Australia’s Home AV and Headphone Business.
Under the new global direction set by Japan, Pioneer Australia will now refocus and re-energise every aspect of the business, including the company’s product portfolio, operations and distribution.
The company will continue to support and embrace its Car Electronics and DJ businesses, as well as look to grow its new Cycling Sports division.
“Whilst we remain realistic about the challenges that lie ahead, we’ve already taken critical steps towards carving out a new, prosperous chapter in Pioneer’s