Wednesday, August 12, 2015

Not A Guitar Company Any More

Gibson Brands has changed its primary focus to consumer electronics.

The Tennessean reports Gibson, known for its guitars, has clearly redirected its focus. A May credit report by Moody's Investors Service showed consumer electronics account for 75 percent of the company's consolidated revenue.

Gibson has been buying electronics companies, including the recent purchase of WOOX, an audio and home entertainment provider, which boosted Gibson's annual revenue to $2.1 billion in 2014.

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