BREAKING NEWS: Pioneer To Bail Out Of CE Products
ChannelNews has been told that the Japanese Company is in talks with Funai Electric along with two other Chinese manufactures to sell their entire CE division. The Company will stay in the DJ equipment market as well as the car electronics business.
In Australia Pioneer Electronics who is also the distributor of the Pure brand has lost several senior staff during the past 6 months including former marketing manager Tony Trent.
Earlier this year we reported that Pioneer had approached an Australian distributor via one of their overseas offices to look at distributing their products in Australia.
Now it emerges that the same Company could end up distributing Pioneer products for the new owners of the Pioneer CE business.
Current Pioneer’s car audio and DJ business generates 70 percent of sales, Nikkei reported recently.
Pioneer’s A/V business includes audio components, soundbars, HTiBs, Blu-ray players, networked tabletop speakers, and other home and portable audio products but not TVs, a market that the company got of desp
In fiscal 2013, Pioneer’s A/V segment generated sales of 108 billion yen, or about 20 percent of the company’s total sales.
Funai currently has relationships in Australia with Tempo and Powermove as Funai manufactures Philips audio products.
Funai is the exclusive licensee for Philips-brand consumer TVs through 2015 under a separate agreement, which makes P&F responsible for the sourcing, distribution, marketing and sales of Philips products.
Philips previously sold off its TV-manufacturing business to Hong Kong-based TP Vision (TPV) who recently appointed Tempo to distribute their TV range in Australia.