Funai
Native name | 船井電機株式会社 |
---|---|
Romanized name | Funai Denki kabushiki gaisha |
Company type | Public KK |
TYO: 6839 | |
Industry | Electronics |
Founded | 1961 |
Founder | Tetsuro Funai |
Headquarters | , Japan |
Key people | Koji Bando (Chairman and CEO Hideaki Funakoshi (Vice Chairman) |
Revenue | ¥246,100 million (2012)[1] |
Owner | Funai family (39.39%) |
Number of employees | 2,861 (2011) |
Website | www |
Funai Electric Co., Ltd. (船井電機株式会社, Funai Denki Kabushiki Gaisha) is a Japanese
name.Its United States-based subsidiary Funai Corporation, Inc., based in Torrance, California, markets Funai products in the US, along with Funai-licensed brands including Philips, Magnavox, Emerson Radio, and Sanyo.[2] Funai is the main supplier of electronics to Walmart and Sam's Club stores in the US,[citation needed] with production output in excess of 2 million flat-panel televisions during the summertime per year for Black Friday sale.
History
Funai was founded by Tetsuro Funai, the son of a sewing machine manufacturer. During the 1950s before the company was formed, Funai produced sewing machines and was one of the first Japanese makers to enter the United States retail market. Then, the introduction of transistor technology had begun to change the face of the electronics market. The Funai company was formed, Tetsuro Funai became CEO for 47 years and a US dollar billionaire, and the first actual products produced were the transistor radios.
In 1980, Funai launched a sales and manufacturing subsidiary in Germany. Funai also developed the Compact Video Cassette (CVC) format in the same year, a joint development with Technicolor, trying to compete with VHS and Betamax. Sales were poor and not well-received due to ongoing VHS vs. Beta war, and the CVC format was abandoned a few years later.
Funai introduced an arcade
Funai began to see rising sales of the
In 1991, a U.S. sales subsidiary was established in New Jersey, and it began to sell
In 2008, CEO and founder Tetsuro Funai retired and stepped down from CEO to become chairman. Philips signed a seven-year contract with Funai to license, sell, and distribute Philips- and Magnavox-branded televisions in North America.[7] In 2013, Funai acquired the option to buy the rest of Philips' consumer electronics operations and a license to globally market Philips branded consumer electronics.[8] But that purchase was terminated by Philips because of what Philips saw as breach of contract.[9]
Lexmark
Funai has made inkjet hardware for Lexmark International, Inc since 1997.[10] In August 2012, Lexmark announced that it would be ceasing production of its inkjet printer line.[11][12] In April 2013, Funai announced that it had signed an agreement to acquire Lexmark's inkjet-related technology and assets for approximately $100 million (approximately ¥ 9.5 billion).[10]
Funai acquired more than 1,500 inkjet patents, Lexmark's inkjet-related research and development assets and tools, all outstanding shares and the manufacturing facility of Lexmark International (Philippines), Inc., and other inkjet-related technologies and assets. Through this transaction, Funai acquired the capabilities to develop, manufacture and sell inkjet hardware as well as inkjet supplies.[13]
VHS videotape
The decline of VHS videotape began with the introduction to market of the DVD format in 1997.[14] Funai continued to manufacture VHS tape recorders into the early part of the 21st century, mostly under the Emerson, Magnavox, and Sanyo brands in China and North America. In July 2016, Funai ceased production of VHS equipment, the last known company in the world to do so, after poor sales of its last VCR/DVD player combos.[15]
See also
- TP Vision acquired Philips branded TVs in some countries.
References
- ^ "Funai Electric Co., Ltd. Lowers Consolidated Full-year Outlook for FY 2012". Reuters. Archived from the original on May 3, 2012.
- ^ "Our Brands". 10 November 2016. Archived from the original on 10 November 2016.
- ^ "Overseas Readers Column: 21st AM Show Of Tokyo Held Heralding The Age Of The Video Disk" (PDF). Game Machine (in Japanese). No. 223. Amusement Press, Inc. 1 November 1983. p. 34. Archived (PDF) from the original on 31 January 2020.
- Cash Box. October 15, 1983. pp. 32, 34. Archived(PDF) from the original on August 13, 2020.
- ^ "立体CGを駆使したVDゲーム 〜 未来の宇宙戦争 〜 フナイから 『インターステラー』" [VD Game That Makes Full Use of 3D CG – Future Space War: "Interstellar" from Funai] (PDF). Game Machine (in Japanese). No. 226. Amusement Press, Inc. 15 December 1983. p. 24. Archived (PDF) from the original on 31 January 2020.
- Cash Box. November 12, 1983. pp. 30–4. Archived(PDF) from the original on August 13, 2020.
- ^ "Notice of Acquisition of Lifestyle Entertainment Businesses of PHILIPS" (html) (Press release). Funai Electric Co., Ltd. January 29, 2013. Retrieved September 21, 2013.
- ^ "Philips to take legal action against Funai". 25 October 2013. Retrieved 23 July 2016.
- ^ a b "Funai acquiring Lexmark'sinkjet‐related technology and assets" (PDF). Press Information (Press release). funaiworld.com. April 2, 2013. p. 1. Archived from the original (PDF) on July 9, 2013. Retrieved September 21, 2013.
- ^ "Lexmark announces restructuring". Lexmark. August 28, 2012. Retrieved August 28, 2012.
- ^ "Lexmark to exit inkjet printer market". pcpro.co.uk. August 28, 2012. Retrieved August 28, 2012.
- ^ "Funai acquiring Lexmark's inkjet-related technology and assets". Newsroom.lexmark.com. April 1, 2013. Retrieved September 21, 2013.
- ^ Chaney, Jen (28 August 2005). "Parting Words For VHS Tapes, Soon to Be Gone With the Rewind". The Washington Post. Archived from the original on 18 October 2005. Retrieved 22 May 2017.
- ^ Walton, Mark (21 July 2016). "Last known VCR maker stops production, 40 years after VHS format launch". Ars Technica. Archived from the original on 22 May 2017. Retrieved 22 May 2017.
External links
- Official website (in Japanese)
- Official website (in English)
- Funai Corporation USA