A new year usually signals a new start. But 2014 could be the end for several well-known companies and brands.
Check out the most likely household names to disappear in 2014 based on financial health, according to researchers at 247WallSt.com.
Mitsubishi Motors US
The Japanese company sold just 50,000 cars in the first 10 months of 2013, down from nearly 80,000 in 2011. “Mitsubishi has never been particularly successful but now with less than 1% market share and only a small number of brands it can’t compete against big automakers like GM and Ford,” says Ash Allen, Managing Editor and President of 247WallSt.com.
Allen warns bookworms may have one less e-reader option next year. Barnes & Noble launched the Nook two years after Amazon debuted its Kindle, and Kindle remains the market leader.
According to a recent study, nearly 40% of adults who read e-books own a Kindle, beating out competitors, including Nook and even the Apple iPad. Allen say the demise has less to do with its design and more with the fact that Amazon simply gets more web traffic and sales than Barnes & Noble.
Deal lovers might also bid farewell to flash sale site LivingSocial.com next year. “To understand LivingSocial’s fate, analysts can look at the daily deals leader whose share price is down more than 50% since its peak. Combatting with discontent among retailers and consumers, the daily deals business is getting even worse,” says Allen.
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Another brand that could go belly up is Olympus Cameras, as smartphones replace traditional cameras. The brand hasn’t generated a profit from their camera business in three years. And this fiscal year, the company expects worldwide camera sales to drop by nearly 50% to 2.7 million units.
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Sadly, 2014 could be the final year for the WNBA league, which has struggled to find a fan base since it launched in 1996. “It’s widely believed that most teams lose money and that the NBA subsidizes those losses. That’s going to be a problem for the teams next year when NBA Commissioner David Stern, who happens to be a big supporter of the WNBA, retires,” says Allen.