SOURCE: Simply Electronics
NEW YORK, NY--(Marketwire - Dec 3, 2012) - When innovative consumer electronics burst on the scene, Japanese name-brands led the pack. A new Tampa Bay Times article indicates those days are waning for three of Japan's more popular manufacturers. Simply Electronics, an online retailer offering an array of consumer electronics to customers, made note of the report.
The article profiled Panasonic, Sharp and Sony. According to information shared in the news story, shares of Panasonic dropped in value as a result of the company's estimate of $9.6 billion loss. Failures in its attempts to develop solutions around solar-power, battery and mobile devices contributed to the losses. Furthermore, the article reports Sharp expects to realize a $5.6 billion annual loss. Meanwhile, Sony reported a third-quarter loss of $194 million.
In an effort to describe just what went wrong for the three Japanese giants, the article suggested the companies continue to feel the effects of the 2008 global financial crisis. Excess capacity of both products and labor, coupled with perhaps unwise investments, have led to a difficult recovery. Additionally, the article suggests the companies have been slow to offer products more in line with the changing preferences of today's consumers.
A leading retailer of consumer electronics, Simply Electronics, sells products from all three of the popular Japanese brands. In a statement to the press the company commented, "We are proud to offer our customers a wide variety of electronics from top name-brand companies. Though the news of losses is of concern to any company, we stand behind the quality products we offer. We are happy to report our customers are more satisfied than ever."
Notably, the three companies continue to make high quality electronics. In recent years, the article reports, American companies have risen to the challenge to make low cost electronics of equal quality to compete with the Japanese brands. In addition, companies like Samsung and Apple have been able to create a high level of buzz around their brands. This quality is simply lacking for the Japanese companies.
The article also points to a strong yen and weak dollar as contributing factors. Sales among Chinese consumers have also dwindled as the countries engaged in a dispute over territory. Furthermore, continuing investments in technologies that do not turn a profit while failing to exit lines of business that do not generate revenue also likely led to the losses.
Simply Electronics is a popular online retailer that offers a variety of well-known brands of electronics to customers. Their wide array of products includes everything from professional photography equipment to mobile phones to tablet computers. Simply Electronics offers consumers more than a decade consumer electronics industry experience. The company is committed to providing consumers with the best possible value on electronics.