Why have Japanese electronic companies collapsed?

                Japan, once was the kingdom of giant electronic companies and some still say they are; however, if you look at revenue wise and what has been going on recently, it’s hard to say that anymore.  From January 10 to January 13, there was a CES(Consumer Electronic Show) held at Las Vegas, Nevada.  According to the media, it has been told that most of Japanese Electronics companies booths, such as Sony, Sharp, and Panasonic, were nearly empty or very few people looking around. However, Samsung and L.G., who were once second runner up to Japanese Electronic companies just 10 years ago, were packed with customers wanting to see 3D TV, Smart-TV, and many more. It is approporiate to say that 

Samsung and L.G have surpassed these Japanese Electronic companies, and have become the new king of the electronic companies. Why have these Japanese companies, who were once the king of electronic markets, fallen behind? I believe that their lack of innovation is the biggest reason to falling behind in electronic markets. Wall Street journalist Richard has analyzed the reason behind. He stated that these Japanese companies are still imposing on low labour cost , rather than researching and seeking for new innovations. Their philosophical view on business hasn’t changed, and I believe this is the equation to the continuous failure and falling behind the competitors. Samsung, who was nowhere near the Sony in early 1990’s, has been continuously researching and seeking for new innovations, and due to it, they now have gained a title of “King of Electronic” and I cannot imagine anyone trying to dispute it. Unless these Japanese companies start changing their tactics and searching for innovations, I cannot imagine them retaking that number one spot in electronic market. Daniel Kahneman, Nobel  prize winner in Economics, has compared these Japanese companies to the gamblers who will not leave the table until they have regained the moneys that they have lost. What he meant was that these Japanese companies are not changing their business tactics and keep insisting on low labour cost.

 One of these reference website is in Korea, so I will translate if you guys want. Thanks

 http://www.techradar.com/news/television/ces-2012-highlights-what-you-need-to-know-1042619

http://news.inews24.com/php/news_view.php?g_serial=645408&g_menu=020800

http://blogs.reuters.com/breakingviews/2012/03/29/taiwanese-money-cant-save-japan-from-samsung/