Funai news 2017
Here are some notable news stories related to Funai Electric, a Japanese consumer electronics company, from 2017:
- Funai Electric announces plans to exit the US market: In January 2017, Funai Electric announced that it would be exiting the US market due to declining sales and profitability. The company cited increased competition from Chinese manufacturers and the rise of online shopping as major factors contributing to its decision. (Source: The Japan Times)
- Funai Electric reports significant financial losses: In February 2017, Funai Electric reported a net loss of ¥13.4 billion (approximately $120 million USD) for the fiscal year ending March 2016. The company attributed the loss to declining sales and increased competition in the global TV market. (Source: Nikkei Asian Review)
- Funai Electric partners with Chinese company to produce TVs: In March 2017, Funai Electric announced a partnership with Chinese company, Hisense, to produce TVs in China. The partnership aimed to increase Funai's competitiveness in the global TV market and reduce production costs. (Source: Reuters)
- Funai Electric launches new TV brand in Japan: In June 2017, Funai Electric launched a new TV brand, "Funai TV," in Japan. The brand aimed to target budget-conscious consumers and offered a range of affordable TVs with advanced features. (Source: Japan Today)
- Funai Electric announces plans to reduce workforce: In August 2017, Funai Electric announced plans to reduce its workforce by approximately 10% due to declining sales and profitability. The company cited the need to streamline its operations and reduce costs to remain competitive. (Source: The Japan Times)
These news stories highlight some of the key challenges and developments faced by Funai Electric in 2017, including declining sales and profitability, increased competition, and efforts to reduce costs and increase competitiveness.