Pioneer released a roadmap for its future products today, which said it will develop consumer car radios that are adapted to specific automobiles.
The new products are due over the next five years, and are a reaction to the expected increase in non-DIN sized radios.
They will be available in the North American and European markets, said Pioneer Electronics’ USA parent Pioneer Corporation in Japan (See chart below).
Pioneer USA was not immediately available for comment.
Pioneer’s growth plan on the OEM-side focuses heavily on the development of 3D-LiDAR systems that can detect objects all around the car. It plans to take the information gathered from these systems to create precision maps. It is devoting $91 million (10 billion) yen in research & development costs to thisproject over the next 5 years. The first sales of OEM 3D-LiDAR should start at the end of 2017. But the profits from the devices won’t be fully realized for another 5 or 6 years, said Pioneer.
Pioneer also announced today its earnings for the year which just ended March 31st.
Profits plunged, although that it is due to a profit surge last year created from the sale of Pioneer’s DJ business.
Net sales for the year (fiscal 2016) were $4.1 billion (449.6 billion yen) compared to net sales of $4.6 billion a year ago. Net income fell to $6.4 million (0.7 billion yen) compared to profits of $133.5 million a year ago.
Pioneer is predicting slightly higher profits of $9.1 million for the coming year (ending March 31, 2017). Net sales are expected to be lower at $3.84 billion although sales are projected to rise to $4.7 billion by 2021.
Source: Pioneer Corporation