A Japanese company will make the last ever VHS player

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. 
 

July's issue of Business Review Australia & Asia is now live. 

Follow @BizRevAsia and @MrNLon on Twitter.

Business Review Asia is also on Facebook. 

SOURCE: [FORBES]