For the year ended in March (fiscal 2013), Pioneer said overall car audio consumer sales increased in markets other than Japan.
But while sales overall for the company rose by 3.5 percent, driven especially by strong OEM sales, net income tumbled to a negative $191 million (19,552 million) compared to a positive $36 million (3,670 million) a year earlier.
Total net sales for the year were $4.44 billion (451,841 million yen), up from $4.29 (436,753 million yen) a year earlier.
Sales of car electronics grew 15.4 percent this year to $3.07 billion (312,568 million yen).
OEM sales represented 51 percent of Pioneer’s total car electronics sales this year, compared to 43 percent a year ago. OEM car navigation sales grew in North America and Japan.
However, sales fell in consumer car navigation in Japan as well as in optical disc drives.
The year’s sales were also helped by the Japanese yen’s depreciation.
Pioneer’s home electronics sales declined by 22 percent to 95,925 million yen.
Pioneer said it will continue to develop new car electronics products in the area of “next-generation car information devices, including head-up displays, smartphone-linked display audio and next-generation cloud-based car navigation systems.”
Source: Pioneer Corp.