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A Japanese company will make the last ever VHS player
By BizClik Admin
May 20, 2020
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Japanese manufacturer Funai, which does work in China for Sanyo, has announced that it will put a complete halt to its VHS production line following unsatisfactory sales.
The company says that it only sold 750,000 units last year – compared with peak annual sales of 15 million; coupled with difficulty in sourcing parts, the product’s position is no longer financially viable.
Retail DVDs beat VHS sales for the first time in 2001, capturing $4.6 billion of an annual $16.8 billion buying-and-rental market. However, only 25 percent of homes owning DVD players in 2001, and VHS remained the top rental configuration until mid-2003.
It has not been reported whether any jobs will be lost as a result of winding down production.
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SOURCE: [FORBES]
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