JVC May Drop TV Business In Japan
By Greg Tarr -- TWICE, 4/16/2008 8:27:00 AM
TOKYO — Victor Co. of Japan, parent of JVC America, is considering a plan to halt television production and sales in Japan to focus on the U.S. and European markets, according to a report here.
The Nikkei News Service did not list attribution for the information, but a JVC America spokesman told TWICE on Wednesday, “JVC has not made any official announcement about its plans for the display business in Japan. We are considering measures for the comprehensive rebuilding of our Japan domestic consumer market LCD business, and will release further information on April 25 when we announce our business results for the recently closed fiscal year.”
The Nikkei report said Victor Co. of Japan would end domestic production and sales of flat-panel televisions around this summer, becoming the first major Japanese TV manufacturer to withdraw from the local market.
The report attributed the decision to falling prices on LCD TVs among domestic producers, a declining population base in Japan and preparations for its planned merger with Kenwood this fall.
