OK...maybe it is "just" the covid. Awhile back there was some news about Sound United, Onkyo and maybe Pioneer. Maybe other companies involved, too. That, coupled with the apparent complete disappearance of Onkyo from the market made me think that perhaps something foul was afoot. Like, Onkyo and perhaps Denon folding their tents. Not much would surprise me this year!
What In The World Is Going On?
Recently, I’ve been shopping on-line for CD and network players and it seems no matter where I look, almost everything is out of stock. Some items have an "expected by" date but many do not. What is going on? I’ve never seen a situation like this. I suppose the pandemic plays a role, but I think there must be more to it. Onkyo and Pioneer seem to have practically disappeared from the market. I know there have been buy-out talk concerning Sound United, Pioneer and Onkyo, but I don’t know the current status. Anyone up on the situation?
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From Wikipedia: In March 2015, Onkyo purchased Pioneer Corporation's Home Electronics Corporation, which produces home cinema amplifiers, Blu-ray players and other AV products. In return, Pioneer took a 14.95% stake in Onkyo. The Ohtsuki family remained the largest shareholders of the company with an approximately 26% stake,[1] just above Gibson Brands, with a 16.5% stake.[3] With the bankruptcy of Gibson in 2018, Onkyo's shares held by Gibson were sold, as the company itself reported.[4] In the summer of 2020, major US retailers Amazon and Best Buy discontinued sales of Onkyo products. A call to Onkyo USA's customer service line indicated the number is no longer in service. Distribution of Onkyo, Pioneer, Integra and Elite products has changed hands from Onkyo USA to 11 Trading Company. There's always plenty of backstory to these situations.Technics turntables are selling like hotcakes yet some models are backlogged by months. I wonder why... |
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