VTech has suffered a decline in revenues and profits | Key4Communications | News

VTech Holdings Limited  has announced its results for the year ended 31 March 2015, which has suffered a decline in revenues and profits. Group revenues decreased by 1.0% in the US with a total of 1879.8 million.

On the other hand, referring to the company's shareholders, the group has also suffered a decline in profit in the US, probably because of a change in product mix and the weaker-than-expected performance of children's educational tablets. Faced with this information, Mr. Allan Wong, Chairman and Group CEO of VTech Holdings Limited, explained that "In the financial year 2015, VTech continued its drive for product innovation and expanded its presence in existing and new markets, while continuing to raise levels of productivity. Telecommunication products returned to growth and contract manufacturing services again performed well. However, electronic learning products faced challenges in the children's tablet market, affecting the Group's revenue and profitability".

Also, referring to the US market, we can say that the income of the multinational have been reduced by 5.4%, although it remains the largest market of the group. In Europe, however, the company's revenues have increased by 2.6% in fiscal year 2015, the second largest market of the company. In Asia Pacific revenues have also increased, as in other regions such as Latin America, Middle East and Africa.