Hitachi to stop making televisions

Hitachi to stop making televisions
Highlights
  • Japanese high-tech giant Hitachi said Monday it will stop making televisions by the end of September as intense price competition hurts TV earnings at many electronics manufacturers worldwide.
Advertisement

Japanese high-tech giant Hitachi said Monday it will stop making televisions by the end of September as intense price competition hurts TV earnings at many electronics manufacturers worldwide.

Hitachi will "terminate television production by the end of September" in Japan, said Sayori Nishino, a company spokeswoman, having already outsourced overseas TV manufacturing to foreign firms in 2009.

But it will still sell televisions branded with its "Wooo" logo made by contractors.

For Japanese manufacturers in various sectors the surging yen has weighed on sales in foreign markets by making Japan-made products more expensive, as well as reducing the value of repatriated earnings.

Ratings agency Moody's last week downgraded both Sony and Panasonic, citing losses in the two firms' TV divisions, among other factors.

Television manufacturers around the world have been badly hit by rampant competition and minuscule margins, making profits difficult to squeeze out with consumers increasingly unwilling to shell out sky-high prices for sets.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Megaupload founder denies piracy, demands release
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »