Onkyo, a Japanese audio gear producer, just lately declared chapter, citing whole liabilities of three.1 billion yen ($24 million). In keeping with a Nikkei Asia report, the corporate’s demise was attributable to an lack of ability to maintain up with modifications in how folks take heed to music.Onkyo was based in 1946 and rose to prominence within the audiophile neighborhood, owing largely to its AV receivers. With the recognition of tower-style, part stereo techniques within the Nineteen Nineties, Japanese manufacturers reminiscent of Onkyo, Pioneer, and Sony skilled a surge.Nevertheless, the market started to shift within the 2000s with the introduction of MP3s, the just lately discontinued Apple iPod, and later, smartphones and streaming music providers. Massive residence stereo techniques fell out of favour with shoppers, who most popular sleeker techniques reminiscent of soundbars and cellular options.With a view to keep related, Onkyo launched a line of headphones and earbuds within the following years.The corporate tried to fortify its enterprise by buying Pioneer’s shopper electronics division in 2015, but it surely was by no means in a position to totally proper the ship. It raised the prospect of delisting from the Tokyo Inventory Change in January 2021, and Onkyo was rapidly bought by Voxx Worldwide and Sharp Company. The audio gear producer was delisted from the inventory trade in August.In keeping with Nikkei Asia, Voxx and Sharp will most certainly proceed to make use of the Onkyo model identify.