Japan's home appliances once dominated the global market, but over time, a combination of domestic brand efforts and internal missteps led to their decline, leaving many to sigh at the fading glory of Japanese electronics.
On November 14, Hisense, China’s largest television manufacturer, announced that it had acquired 95% of Toshiba Visual Solutions Corporation's shares, based on market share. The deal is expected to be finalized by February 18th.
The acquisition was valued at 12.9 billion yen (approximately RMB 750 million). Once completed, Hisense will gain full control of Toshiba TV products, brands, and operational services, along with a 40-year licensing agreement for the Toshiba TV global brand.
Toshiba, a century-old Japanese company, has been struggling financially in recent years. Its cash cow, the NAND flash business, hasn't been sufficient to cover its financial gaps, making the sale of its TV division a logical move.
What’s particularly ironic is that, aside from Sony, Nikon, and Canon, many of Japan’s veteran electronics companies have seen their "Made in Japan" and "Japanese brand" appliance businesses taken over or operated by Chinese companies.
This shift highlights a major transformation in the global electronics landscape, where once-dominant Japanese brands are now being rebranded or managed by foreign competitors.
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