{"id":89819,"date":"1999-12-31T00:40:00","date_gmt":"1999-12-30T13:40:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/pioneer-electronics-still-struggling-ce-plunges-22\/"},"modified":"1999-12-31T00:40:00","modified_gmt":"1999-12-30T13:40:00","slug":"pioneer-electronics-still-struggling-ce-plunges-22","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/pioneer-electronics-still-struggling-ce-plunges-22\/","title":{"rendered":"Pioneer Electronics Still Struggling CE Plunges 22%"},"content":{"rendered":"<p>Pioneer Electronics has reported a $194 Million dollar loss due to a 22% fall in sales of their consumer electronics products, sales of in-car gear rose 15.4%.<\/p>\n<div><span style=\"font-family: sans-serif; font-size: small;\">The Japanese company is now planning to spin off its home A\/V business and integrate it into a home electronics sales subsidiary. It is not known how the move that is set to happen in July will affect the company&#8217;s Australian operation which also acts as a distributor for none Pioneer products.<\/span><\/div>\n<div><font face=\"sans-serif\" size=\"2\"><br \/><\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\">In home electronics Pioneer hopes to leverage its DJ equipment business which is strong in Australia &#8220;to achieve steady growth&#8221;.&nbsp;<\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\"><br \/><\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\">While sales overall were up 3.5% year on year, the company, which has struggled to make a profit since getting out of the plasma TV business, said that increased OEM sales of car navigation systems and consumer-market sales of car audio products had helped the company.<\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\"><br \/><\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\">Home electronics sales declined 22 percent year on year, to 95,925 million yen. Although sales of DJ equipment rose, sales of optical-disc-drive-related products declined substantially, the company said.<\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\"><br \/><\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\">Operating income declined 52.1 percent year on year, to 5,997 million yen, due to an increase in selling, general and administrative (SG&amp;A) expenses and a lower gross profit margin, among other factors.<\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\"><br \/><\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\">Pioneer recorded a net loss of 19,552 million yen compared with the previous fiscal year&#8217;s 3,670 million yen net income, reflecting the decline in operating income and combined with 6,242 million yen in restructuring costs and a 5,040 million loss on impairment of investment securities recorded as an extraordinary loss.<\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\"><br \/><\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\"><br \/><\/font><\/div>\n<div><font face=\"sans-serif\" size=\"2\">Pioneer executives announced a two-year plan for its business segments. In car electronics it will &#8220;work to create new value through transforming the business model.&#8221; Part of that will be technology that &#8220;transcends conventional car navigation systems,&#8221; in a partnership with Mitsubishi Electric to jointly develop a &#8220;multimedia platform&#8221; for vehicle-linked next-generation automotive equipment.<\/font><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pioneer Electronics has reported a $194 Million dollar loss due to a 22% fall in sales of their consumer electronics products, sales of in-car gear rose 15.4%.<\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,51],"tags":[],"class_list":["post-89819","post","type-post","status-publish","format-gallery","hentry","category-archive","category-marketing","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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