Taiwan’s Innolux unit buys former Japanese TV major Pioneer for $1.1 billion

TAIPEI: CarUX, a smart cockpit solutions provider and a subsidiary of Taiwan’s display maker Innolux Corp, said on Thursday it will acquire Japan’s Pioneer Corporation in a deal valued at 163.6 billion yen (around $1.1 billion).

Pioneer was once a major Japanese player in consumer electronics, whose decline presaged the broader industry shake-up to come as Japanese manufacturers were unable to keep with larger, more efficient producers like South Korea’s Samsung Electronics.