Japan's Onkyo home entertainment recently announced that it had applied to the Osaka District Court for bankruptcy protection and accepted the decision to start bankruptcy proceedings. Total liabilities are about 3.1 billion yen. Some analysts said that the audio-visual mode of today's era has changed. People use less audio equipment such as mini sound and stereo power amplifier, which used to be the main product, but listen to music through smart phones. Anqiao failed to respond to this change in time.
The lawyer of anqiao's bankruptcy administrator said at a press conference on May 13 that "profits have deteriorated due to market shrinkage and (business) expansion". Anqiao has about 500 creditors. About 250 of them are consumers who book amplifiers through crowdfunding, and the company failed to provide them with products.
Due to the sluggish performance, anqiao was delisted in August 2021. In order for the company to survive, the company sold its home video business to sharp and American audio equipment giant Voxx in September of that year, and its headphones and headphones business were also sold to investment funds.
By March 2022, two major subsidiaries involved in speaker OEM production business also applied for bankruptcy protection. The actual business activity cannot be carried out.
Anqiao was founded in 1946, supporting the sound boom. After entering the 2000s, with AppleiPod And the popularity of smart phones, the market environment has changed significantly. Anqiao cooperated with American musical instrument giants and Chinese household appliance giants, and also acquired headphones and other businesses from pioneer, but failed to reverse the deterioration of performance caused by market shrinkage.
In the future, the joint venture between sharp and Voxx will continue to use the "Onkyo" brand.