Strategy in TECH...
This week we learned that the Sonos, Inc. (Nasdaq: SONO) plans to launch a new product into a new “multibillion-dollar” product category – strongly rumored to be headphones – has hit a snag, despite its best efforts. Company management has been enthusiastically talking up this diversification into an entirely new category for months – suggesting it will add at least $100 million to revenues this year. But now…those plans have had a monkey wrench thrown into them…
Masimo Corporation (Nasdaq: MASI) announced on Tuesday its financial results for the fourth quarter and full year of fiscal 2023, the period that ended December 30, 2023. Results were mixed with revenues down double digits in the quarter but flat for the year. But a more sobering picture emerged for the “non-healthcare” division, also known as Masimo Consumer, which is the division that was formed when the company acquired Sound United almost exactly two years ago.
This week, Josh.ai held a significant launch of several new products, app improvements, and new integrations as it continues its journey from a voice interface into a full system control provider. While a voice update was part of this announcement, it felt deemphasized as the company pursued a greater role in the industry as a full control solution provider by launching a richer app user experience (UX), the introduction of a touch panel interface, and a round of new integrations.
The Nikkei is reporting a robust revival in Japan of sales of prerecorded analog cassette tapes, a format once thought dead and gone. Now, the report says, the humble cassette tape “is experiencing a renaissance, charming a new generation of music enthusiasts with its nostalgic appearance and distinctly warm and rich sound.”
Walmart announced Tuesday that it has agreed to acquire Vizio, the high-value TV maker, for $11.50/share in an all-cash deal worth a total of $2.3 billion. Walmart announced the acquisition as part of its highly positive and optimistic presentation of the retailer’s fourth-quarter earnings. Walmart stock popped on the earnings report, more encouraged by its forward optimism of more growth rather than on the acquisition itself.
But Walmart plans to have this acquisition drive profit growth going forward.
AudioControl announced on Thursday that it has appointed two well-known and respected manufacturer sales representative firms to represent the line in two upper Midwest regions. AudioControl, like many manufacturers, has long relied on manufacturer sales reps to offer superlative sales and support functions to its dealers on a local level.
Azione Unlimited, a division of Nationwide Marketing Group, announced this week that its founder, president, and chief creative officer Richard Glikes has exited the custom integration buying group, effective February 1. Glikes has been running the show at Azione for twelve years now and the group says he will still be involved in providing “strategic guidance” on an ongoing basis as Chairman Emeritus, but has withdrawn from day-to-day operations.
GE Appliances and Savant Systems announced today that they are partnering in the launching of an innovative new home energy solution they call the EcoBalance System. The goal of this system is to offer the residential market a “whole-home, connected solution” that delivers the ability for consumers to take full control of energy delivery and utilization in their homes for unparalleled energy efficiency and management.
Portal, one of the custom integration industry’s most popular AV proposal & design software solutions used by thousands of custom integrators every day, has announced that they have struck a deal with two industry powerhouse brands – Snap One and Sonos – who will make the software available to their respective integration dealer bases. Both brands will underwrite the full monthly subscription cost for their dealers in an effort to help those integrators raise their level of professionalism, improve the efficiency of their operations, and increase their deal closing rates.
Respected digital imaging powerhouse Digital Projection International (DP) announced that it has expanded its sales team with two new regional sales managers. Both are experienced professionals who will offer sales and support to Digital Projection customers throughout their respective regions.
