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Onkyo Files For Bankruptcy

When I think of Onkyo, I think of yesterday’s tech. They were unable to keep up with the trends in the consumer hifi market: smaller, lighter, portable, etc. Not to mention the Chinese hifi taking up the low cost, high value space that Onkyo used to occupy.

I think it was the parent company of Marantz that tried to buy Onkyo a few years back, but Onkyo walked away from the deal.
 
For me hi end earphones and Lossless spatial Apple music has me listening with my iPhone more than anything else.
 
I have an a10 and and a7090, both of which are phenomenal.
Also owned an a45 and a tx2500mk2.

They made great gear with real solid specs, I love my a7090 as much as my pioneer sx1010. The pioneer looks better but the onkyo sounds better to my lugs.
 
I have an A-7040 and a Onkyo Integra tx-85 and a 5.1 theatre set up the first two both sound good and have been worry free since the day I bought them new. The 5.1 setups works fine but is rather simple in design.
No complaints from me.
 
wmgwizard said:
https://www.audioholics.com/news/despite-bankruptcy-onkyo-pioneer-elite-av-drives-on
Click to expand...

From article

Yes Virginia, There Will Still Be Onkyo AV Receivers
The Onkyo we knew, the Japanese company with a history that dates back to 1946 and has been majority owned by the Ohtsuki family will cease to exist. Think of it as the soul of the company that’s lost. It’s unlikely that even Elon Musk will step in to save Onkyo from bankruptcy and pay off the debts of a company that couldn’t make ends meet. But the Onkyo and Pioneer brands will continue to live on! The company’s audio/video business is owned by Voxx International and it even has a contract with Sharp to manufacture its AV products. In fact, it’s unlikely that most consumers, especially those looking at new Onkyo AV receivers, will even notice a change. Premium Audio Co is a joint venture from Voxx and Sharp since September 2021 and runs several popular home Audio Video brands including Onkyo, Pioneer, Elite, Integra as well as Klipsch, HECO and Energy speakers.

So, fans of home audio will still see the familiar Onkyo, Pioneer and Elite nameplate on AV receivers for some time into the future. Warranties will continue to be honored and its AV receivers and other equipment will continue to be made, provided they can fish for the chips required to assemble and fix them. Who knows, maybe under Voxx, Onkyo will be injected with new life and continue to live on and even prosper in the leaner, more adaptable form that today’s market demands.
 
suzook said:
Go bankrupt, wipe all debt, and stay in business. I seriously don't get it. I feel bad for all their suppliers that get nothing that is owed to them.
Click to expand...


May 16, 2022

Dear PAC Partners,

Late last week, we learned that Onkyo Home Entertainment Corporation (OHE) filed for bankruptcy protection in Osaka, Japan for two of its subsidiaries as we anticipated. As a result, some false and misleading statements have surfaced in various media outlets that I’d like to address.

In a nutshell, this filing does not include the assets that were previously purchased last year by Premium Audio Company and Sharp. OHE essentially acted as a licensing company, similar to our relationship with Pioneer. This filing has no impact on our operations as we are not reliant on them for any function in developing or distributing Onkyo or Integra branded audio/video solutions. Additionally, consumer demand for these brands has never been stronger and we are positioned to expand production to meet demand.

In September 2021, Premium Audio Company (PAC), a wholly-owned subsidiary of VOXX International (NASDAQ: VOXX), announced that we along with Sharp Corporation created a joint venture and acquired Onkyo’s home audio/video business, which includes the long-standing and innovative Onkyo and Integra brands. PAC owns approximately 75% of the joint venture and manages all product development, the world-class engineering team and their prowess at Onkyo, sales, marketing, distribution, and all intellectual property of Onkyo’s home entertainment business. Sharp continues to manufacture Onkyo and Integra audio/video solutions products and spare parts in their state-of-the-art Malaysian plant, as they have in the past. The process for service and warranty will continue as it does today.

Demand for Onkyo and Integra products is very high, and we expect this to intensify in the coming years. We have been working very closely with Sharp to ramp up production and have grown our business significantly in the eight months since the acquisition was completed. We have big plans for these brands and are working diligently to expand production and reach to meet growing consumer demand. Rumors to the contrary are simply unfounded and misleading.

The PAC portfolio is comprised of some of the most legendary and revered brands such as: Klipsch, Jamo, Onkyo, Pioneer, Pioneer Elite, Integra, Magnat, Heco, Teac, and Esoteric.

Combining the number one speaker brand in the world with the most technically sophisticated Japanese electronics brands ushered in a new era of design, innovation, and performance. We look forward to another 75+ years of creating industry-leading products, profitability for our partners, and connecting people to their passion for entertainment.
 
NH-MAN said:
May 16, 2022

Dear PAC Partners,

Late last week, we learned that Onkyo Home Entertainment Corporation (OHE) filed for bankruptcy protection in Osaka, Japan for two of its subsidiaries as we anticipated. As a result, some false and misleading statements have surfaced in various media outlets that I’d like to address.

In a nutshell, this filing does not include the assets that were previously purchased last year by Premium Audio Company and Sharp. OHE essentially acted as a licensing company, similar to our relationship with Pioneer. This filing has no impact on our operations as we are not reliant on them for any function in developing or distributing Onkyo or Integra branded audio/video solutions. Additionally, consumer demand for these brands has never been stronger and we are positioned to expand production to meet demand.

In September 2021, Premium Audio Company (PAC), a wholly-owned subsidiary of VOXX International (NASDAQ: VOXX), announced that we along with Sharp Corporation created a joint venture and acquired Onkyo’s home audio/video business, which includes the long-standing and innovative Onkyo and Integra brands. PAC owns approximately 75% of the joint venture and manages all product development, the world-class engineering team and their prowess at Onkyo, sales, marketing, distribution, and all intellectual property of Onkyo’s home entertainment business. Sharp continues to manufacture Onkyo and Integra audio/video solutions products and spare parts in their state-of-the-art Malaysian plant, as they have in the past. The process for service and warranty will continue as it does today.

Demand for Onkyo and Integra products is very high, and we expect this to intensify in the coming years. We have been working very closely with Sharp to ramp up production and have grown our business significantly in the eight months since the acquisition was completed. We have big plans for these brands and are working diligently to expand production and reach to meet growing consumer demand. Rumors to the contrary are simply unfounded and misleading.

The PAC portfolio is comprised of some of the most legendary and revered brands such as: Klipsch, Jamo, Onkyo, Pioneer, Pioneer Elite, Integra, Magnat, Heco, Teac, and Esoteric.

Combining the number one speaker brand in the world with the most technically sophisticated Japanese electronics brands ushered in a new era of design, innovation, and performance. We look forward to another 75+ years of creating industry-leading products, profitability for our partners, and connecting people to their passion for entertainment.
Click to expand...
Someone is getting fcked. Trust me.
 
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