Originally posted by Synthoid:
We heard from another forum that Technics was going out of business. Could you update us? Thanks!
Let's clarify things. Matsushita (Panasonic, Technics, National which is a popular brand name In Malaysia, Indonesia, etc..., participation in JVC, etc...) has decided to eliminate the Technics brand name from their "line-up" most likely to put Panasonic up front, and eliminate production costs related to multi-branding. (You have probably noticed the progressive disappearance of Technics mass-market products over the last few years.) They have also decided to stop manufacturing musical instruments. The MI business is pretty small compared to the mass market products, and musical instruments were most likely like a pain to take care of for Matsushita, especially considering the sales that this division was bringing. Don't get me wrong. Sales were good in certain countries, but not high enough for Matsushita to pursue the efforts in expanding this division.
So, we can't say that Technics is going out of business... It is purely a rational business decision, as any big company does once in a while.
NB: there's a funny glitch about the Matsushita decision to stop manufacturing musical instruments. They own a certain percentage of Kawai!!!