JVCKenwood reported a small increase in overall sales, while net income remained in the red.
Total sales for the first quarter (ended June 30) were $543 million (67.3 billion yen), up from $537 million a year ago.
The company reported a net loss of $18.7 million (2.3 billion yen) compared to a net loss of $21.4 million for the quarter a year ago.
In car electronics, specifically, net sales rose to $266 million compared to $234 million a year ago. Net income swung to a loss of $6.5 million compared to a net income gain of $5.1 million last year.
Source: JVCKenwood
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were almost finish!!!! 25 years in business and were sinking faster then i expected…..
I’ve been in this industry for over 25 years. Sadly it is beginning to look like a sinking ship.
Clearly the strategy of lowering prices to capture market share is working out well for them.
Maybe if they started making in-dash navi units that didn’t lock up, run slow, reset themselves, just show tiny red text on the screen, etc etc etc.