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Successful product from another time
Photo: Weiss / IMAGO
Electronics manufacturer Onkyo has filed for bankruptcy.
This was reported by the Japanese medium »Nikkei Asia«.
According to this, the company's liabilities amount to the equivalent of around 23 million euros.
The company lost its listing in Japan in August.
As a result, Onkyo sold its core business with audio equipment such as stereo systems to its Japanese competitor Sharp and to the US group Voxx International.
The company sold the headphone division to an investment fund.
Onkyo told Nikkei Asia that it was unable to pay off the debt.
Despite the move, the Onkyo brand will probably remain.
According to the report, the new owners Sharp and Voxx International plan to continue selling devices under the name in a joint venture.
The Japanese manufacturer is known for its stereo systems, but according to industry observers it has not mastered the move to smartphones and streaming services.
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