Asia

In Japan, luxury toaster maker’s ill-fated smartphone foray craters stock price as it halts handset sales




A foray into smartphones by Japan’s Balmuda Inc, best known for its high-end toasters, has cratered its stock price with the firm announcing this week it has halted sales of its poorly received handset.Shares in Balmuda, which listed on Tokyo’s start-up index in December 2020, fell as much as 10 per cent in Tuesday trading, a day after the firm said it has paused sales because of an unidentified issue regarding compliance with Japan’s technical standards.Balmuda’s founder and CEO Gen Terao…



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