OSAKA -- Struggling Japanese audio equipment maker Onkyo is no longer in talks to sell its flagship home audiovisual business to American company Sound United, the company said on Friday.
The Osaka-based company was looking to unload the unit, which includes home speakers and accounts for 70% of group sales, for $75 million as part of its turnaround effort. But it was unable to meet the necessary conditions for the deal, such as securing committed financing.
