It's a sad day for the Australian Consumer Electronics industry, with Hitachi deciding to close its doors on the consumer tech arm of its Australian business as part of a global restructure.
Apparently the move is a part of a global restructure, and not the result of the Australian market's performance financially. However there are mixed reports on whether there will be a swinging of the layoff hammer or simply repurposing the current staff across Hitachi's other areas of business in Australia.
Losing a big player like this can't be a good thing, and not just because it means we'll miss out on their shiny new TVs. Competition makes the consumer tech world go round. Plus, every time a consumer tech company closes its doors, a baby angel dies.
There's a media briefing happening tonight, so we'll keep you posted with all the official news tomorrow.