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Company News >> Another day, the giants are falling! Plasma display / OLED technology has achieved breakthroughs! 9th,April,2019
                                           Japan’s Pioneer Company recently announced that Baring Asia will invest 102 billion yen (about 900 million US dollars) to acquire Pioneer. Since then, Pioneer will become a wholly-owned subsidiary of Baring Asia and withdraw from the Tokyo Stock Exchange. This global technology hegemon, the world's number one technology giant, announced the withdrawal of the stage of history.

In recent years, the bad news of Japanese technology giants has been commonplace, and almost the state of queuing has gone down. Sharp, who has been struggling for four years, was eventually acquired by Hon Hai; Nikon shut down its Chinese factory; chip giant Toshiba sold its flash memory business in an effort to survive. . . . . . Losses, layoffs, and acquisitions have almost become the norm for current Japanese companies.

Today, in the 1990s, another Japanese giant entered the footsteps.

Japan’s Pioneer Company recently announced that Baring Asia will invest 102 billion yen (about 900 million US dollars) to acquire Pioneer. Since then, Pioneer will become a wholly-owned subsidiary of Baring Asia and withdraw from the Tokyo Stock Exchange. The global technology overlord and the world's number one technology giant announced their withdrawal from the stage of history.

In 1938, the old giant was in a loss

The Pioneer Company, founded in Tokyo in 1938, was the pillar of Japanese technology in the 1990s. It was well known for its technology leadership in the consumer electronics industry. According to public information, Pioneer has made great breakthroughs in cable TV, laser disc players, car CD players, car audio, Supertuner technology, plasma display and OLED technology. At the same time, Pioneer not only has a research and development team, but also a manufacturer of these technologies.

Pioneer, like its name, has created a number of "world firsts": including the launch of the first car CD player, car GPS navigation. At that time, the company's electronics almost dominated the car CD, DVD, navigation and other fields. The Pioneer China Department was also established in 2001. It is mainly responsible for the management of affiliated companies in China, Hong Kong and Taiwan and the sales of Pioneer products.

However, with the development of technology, Pioneer has a little bit of hindsight.

In 1997, the Japanese company decided to develop a plasma TV. However, the assault on LCD TVs made plasma TVs almost no room for survival. The struggling pioneers did not withdraw from the long-lost plasma TV business until 2010. It has not only been affected by the development of the times, but also its audio business has been forced to terminate. Later, with the popularity of smart phones, consumers' demand for car navigation quickly decreased, which made the pioneers who have been showing their skills in car navigation without a clue.

The investment community has inquired about the relevant data. From April to September 2018, Pioneer’s net loss reached 9.9 billion yen, while the loss for the same period in 2017 was 7.1 billion yen. It is expected that the loss in the second half will be until March next year. Increase by 5 billion yen.

The pioneers who were in dire straits had to lend a helping hand to the outside world. At the beginning of this year, it requested support, capital and business cooperation from Japanese auto parts company Kangnai.

Nowadays, in the face of the current endgame, delisting and finding a new one is the best destination. The acquisition of Fang Baring Investment Asia (Baring Asia) was originally affiliated with Holland International Group (ING), and was independent of MBO in 2000. Since 1998, it has invested in IT-related fields.

Pioneer, a microcosm of many Japanese companies

In fact, it is not the automotive system of Pioneer's company that is affected by the development of smart technology. Other companies in the field of car navigation, like Clarion, have reorganized their development and business systems due to deteriorating performance, and Fujitsu has sold car navigation systems subsidiaries.

Nikkei Chinese Net faced the vanguard's fate, commenting: "The decline of Pioneer Electric and Japan's electricity and the decline of the home appliance industry." It is undeniable that the Japanese giants who were at the forefront of the world's technology are in the current era, some Unacceptable. When Sony, Sharp and other world-renowned companies almost collapsed overnight, they had to think about what the “inevitable” factor was.

Japanese technology companies are obsessed with the exquisite technology, and firmly believe that "the wine is not afraid of the alley." Japan's technology, known for its "rigorous" craftsmanship, does not allow the concept of "non-performing rate". This pursuit of technical perfection is a "double-edged sword." The current rapid development of science and technology will open a few streets with a little carelessness. The iterative update of digital products has made some of the products that were once brilliant without use, and have been replaced. I still thought that I would be able to make a good start of the day, but I forgot to keep up with the times and finally ignored the actual needs of the market and was abandoned by the industry.

"Dying from Technology: Sony's Decline"? The book concludes with a summary of Sony's life and death: technology is fundamental to Sony's fame, but Sony's decline is also over-reliant on technology.

Moreover, one of the biggest problems for Japanese companies is delay. Pioneer has already foreseen that plasma TV is going downhill, but it was only in 2010 that it cut off the business. At the time of the 2012 Sharp crisis, Guo Taiming had proposed to invest 66.9 billion yen in Sharp to obtain a 9.9% stake in Sharp. However, because Sharp's decision-making camp is not willing to take responsibility, Sharp only responded to "our company will hold a meeting to discuss", and finally dragged the company down. Most Japanese companies know how to reform to overcome shortcomings, but implementation is difficult. These scorns have become the burden of the company's development.

At least Pioneer is still lucky, it has already found a new one. It is reported that the company will reduce the number of employees from 20,000 to 3,000 to reduce the burden. At the same time, Baring Asia will inject new business integrating maps and data, prompting Pioneer to return to development and growth in its operations.

The survival and rise and fall of enterprises have their reasons for the times. But if it can't change with the changes of the times, then there will be no red flowers, and any "pioneer" will eventually fall.

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