Onkyo, one of the best-known Japanese manufacturers of home theater equipment, has "
filed for bankruptcy at Osaka District Court on Friday, with total liabilities of around 3.1 billion yen ($24 million)," reports Nikkei Asia. The report is sparse on details but attributes the bankruptcy to a "market shift to streaming and smartphones."
In mid-2020, Onkyo USA Corporation
ended a 45-year run as Onkyo's exclusive sales, marketing and distribution division for the Americas, according to Audioholics.
Onkyo has appeared in
a few stories on Slashdot over the years. Our personal favorite was a story in 2003 about a
new use of embedded Linux in Onkyo's home music server.