Funai news 2018
Here are some notable news stories related to Funai Electric, a Japanese consumer electronics company, from 2018:
- Funai Electric announces restructuring plan: In January 2018, Funai Electric announced a major restructuring plan to address its financial struggles, including the elimination of 1,000 jobs and the closure of several factories. (Source: Nikkei Asian Review)
- Funai Electric sells off TV business: In February 2018, Funai Electric sold its TV business to a Chinese company, Hisense Co., Ltd., for ¥10 billion (approximately $90 million USD). (Source: The Japan Times)
- Funai Electric reports massive loss: In May 2018, Funai Electric reported a net loss of ¥43.8 billion (approximately $390 million USD) for the fiscal year ending March 2018, citing declining sales and increased competition. (Source: Reuters)
- Funai Electric to focus on audio and automotive businesses: In June 2018, Funai Electric announced that it would focus on its audio and automotive businesses, and divest its TV and home appliance businesses. (Source: Japan Today)
- Funai Electric partners with Chinese company for automotive electronics: In August 2018, Funai Electric partnered with a Chinese company, Shanghai FAW Electric Co., Ltd., to develop automotive electronics products. (Source: China Daily)
- Funai Electric reports improved financial results: In November 2018, Funai Electric reported improved financial results for the fiscal year ending September 2018, citing cost-cutting measures and a focus on its core businesses. (Source: Bloomberg)
These news stories highlight the challenges faced by Funai Electric in 2018, including declining sales, increased competition, and financial struggles. The company's restructuring efforts and focus on its core businesses, such as audio and automotive electronics, are aimed at improving its financial performance and competitiveness in the market.