[Nikkei Asia]
Classic Japanese audio brand Onkyo files for bankruptcy
Maker of stereos and speakers doomed by market shift to streaming and
smartphones
Osaka - Japanese audio equipment maker Onkyo Home Entertainment filed for
bankruptcy at Osaka District Court on Friday, with total liabilities of
around 3.1 billion yen ($24 million).
The Osaka-based company was delisted in August. It was unable to keep pace
with changes in how people listen to music, as users shift from audio
equipment like compact stereo systems -- once Onkyo's core business -- to
devices like smartphones for streaming services.
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https://asia.nikkei.com/Business/Companies/Classic-Japanese-audio-brand-Onkyo-files-for-bankruptcy
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