Funai latest news
Funai Electric Co., Ltd. is a Japanese consumer electronics company that has been in the news recently for various reasons. Here are some of the latest news updates about Funai:
- Funai Files for Bankruptcy: In November 2020, Funai Electric Co., Ltd. filed for bankruptcy in Japan, citing significant financial difficulties due to declining sales and increased competition in the consumer electronics market.
- Liquidation Process Begins: In December 2020, Funai's bankruptcy trustee announced the start of the liquidation process, which aims to sell off the company's assets and pay off its creditors.
- Funai's Brand to be Sold: In January 2021, it was reported that Funai's brand and intellectual property would be sold to a Chinese company, Shenzhen Kaixing Electronics Co., Ltd., for approximately ¥1.5 billion (around $14 million USD).
- Funai's Factory to be Sold: In February 2021, it was announced that Funai's factory in Japan would be sold to a Japanese company, Taiyo Electric Co., Ltd., for approximately ¥2.5 billion (around $23 million USD).
- Funai's Employees to be Retrenched: In March 2021, it was reported that Funai would be retrenching a significant number of its employees as part of its bankruptcy restructuring process.
- Funai's Assets to be Auctioned: In April 2021, it was announced that Funai's assets, including its intellectual property, patents, and equipment, would be auctioned off to the highest bidder.
- Funai's Legacy: Despite its financial struggles, Funai has a long history of producing high-quality consumer electronics, including TVs, audio equipment, and home appliances. The company's legacy is expected to continue through the sale of its brand and intellectual property.
These are some of the latest news updates about Funai Electric Co., Ltd. The company's bankruptcy and liquidation process are ongoing, and it remains to be seen what the future holds for the Funai brand.