Pioneer to Halt Production of DVD Recorders
June 06, 2006
New York, NY - Forbes.com reported that Pioneer Electronics will cease production of DVD recorders, due to declining market share. The news service stated that Pioneer's President and Chief Executive, Tamihiko Sudo, told the Japanese news service, Nihon Keizai Shimbun, that Pioneer inked a deal with Matsushita to purchase their microprocessors and software.
As the company moved to fourth place in the DVD business, profits declined to the point where it's DVD division was losing too much money.
The report added that Pioneer will continue to work on Blu-ray disc drives, which are backed by new partner Matsushita (Panasonic) and Sony. Pioneer will also focus resources on its automobile electronics division, according to Forbes.
In a separate report by Reuters news service, Pioneer announced it would delay the North American launch of Blu-ray disc drives until the fall. The original release time was to be this month.
For more information go to: Forbes.com News Service.
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