JVCKenwood sets the guidelines for the product development lines of all its business lines with an eye on 2020

The multinational establishes in its strategic plan 'Vision 2020' the main guidelines that the group of companies will follow for the new challenges that it must face in a global market with continuous technological changes and changes in the habits of consumers and companies.

JVCKenwood just presented the strategic plan Vision 2020, which marks the main business lines and their corresponding product ranges five years from now for their professional and consumer markets.

In the brand's opinion, there are a series of variables in the market that force large brands to continually adapt more and more quickly to the technological environment. And assuming certain uncertainties such as the rapid depreciation of the yen. The decline in the consumer electronics business due to the incessant penetration of smartphones in daily life and leisure, leads global companies such as JVCKenwood to continuous innovation that in the case of this multinational will be directed in the strategic field to optical technologies, new operating environments in the cloud and Big Data.

JVCKenwood has returned to positive results after a profound restructuring, and is now going to deepen its efforts to strengthen the business areas with the highest volume and growth, such as “Mobile” products for automobiles, and professional video and audio products and solutions, which have represented more than 30% of its turnover in this last fiscal year, the result of the synergies between both brands.

At the same time, the new strategic objectives contemplate the change from a company oriented towards manufacturing and distribution, to a company that remains global but that aims to create value for the client, providing solutions to their problems and needs, focusing on professional markets and also B2B, through its image sensor manufacturing companies such as Altasens or Kenwood radio systems in the US.

From a closed concept of innovation to an open concept, in which JVCKenwood will use its internal resources for intensive investments in product development, although increasing cooperation with external partners, both technological and venture capital, to accelerate this change, increasing value for customers and at the same time generating a greater operating margin for the brand.

In particular, the professional product ranges will enhance the new generation of cameras and camcorders for AV production, the range of digital pathology medical systems and products for the HealthCare sector, professional intercom and Digital Radio equipment, as well as expansion in the market of professional equipment for the Entertainment sector.

JVCKenwood has set objectives to generate an operating result of 14,000 million yen in 2017, with a return on equity (ROE) of 10%, for the consolidated group companies.