OKI Reports Loss for Fiscal Year
Net sales fell short due to prolonged impact of COVID-19, but company has ample cash reserves.
Net sales fell short due to prolonged impact of COVID-19, but company has ample cash reserves.
OKI had expected that the impact of the COVID-19 pandemic on its business would ease in the second half of its fiscal year.
However, there was a temporary increase in printer consumables’ sales in the third quarter, in contrast to extreme decreases in the first and second quarters.
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OKI will continue to manufacture and supply genuine parts and consumables “through its authorized distribution partners for years to come.”
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by Kathleen Wirth · Published October 29, 2020 · Last modified February 1, 2021
OKI also announced a Mid-Term Business Plan, and that OKI Data Corporation, which operates the printer business, will be merged into OKI Electric Industry Company.
OKI will continue to supply consumables, parts, and warranty service…Its goal is to minimize any disruptions and keep the OKI machines-in-field productive for years to come.
Like other printer/MFP vendors, OKI was hit hard by COVID-19 and office closures, but its printer/MFP revenue had been struggling since before the COVID-19 pandemic hit.
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by Kathleen Wirth · Published July 30, 2020 · Last modified August 10, 2020
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