Strategy in TECH...
It is January 18, 2024, just a little more than two weeks into the new year, and so far Tech businesses have laid off at least 7,785 employees at 58 companies, according to the tracking website Layoffs.fyi. While the number of layoffs per company appears to be moderating some as compared to last year’s crazy post-COVID downward adjustment frenzy, the stream of companies laying off staff appears unrelenting.
Snap One announced today the launch of three new services, part of a Software-as-a-Service subscription program that gets the manufacturer in direct communication with end users of every Control4-based system sold and provides new levels of customer support. The program is said to include a revenue share for its dealers. These programs are called Control4 Connect, Control4 Assist, and Control4 Assist Premium and allow for direct-to-consumer support by the company.
In the matter of Masimo Corp. v. Apple, Inc….AND…Apple, Inc. v. Masimo Corp. we have a full-blown, overt litigation war raging between two determined combatants. It is a complex battle that has opened multiple fronts with multiple separate actions initiated by each of the parties in District Courts, the U.S. International Trade Commission, the Patent Trial and Appeal Board, the U.S. Customs and Border Protection, and the U.S. Court of Appeals for the Federal District. Almost every one of the myriad decisions by all of these entities is appealed to final disposition.
However, Friday, January 12, 2024, turns out to be an especially important day.
Indy Audio Labs, the company that manufactures the respected high-end high-performance brands Acurus and Aragon, announced this week that it has appointed AWA Reps as its representative for the Great Lakes region. The company, which calls itself “leaders in immersive home cinema processing and amplification” is looking to shine a light on this appointment for dealers in the region.
On Wednesday, Masimo Corporation (NASAQ: MASI) released preliminary results for its Fiscal 2023 fourth quarter and full-year results and issued new guidance representing its outlook for Fiscal 2024. Even though its final results won’t be announced until next month (February) the company has enough information to issue these preliminary results now, giving investors a better picture of how their fiscal quarter and year will end.
Masimo also announced it would change its formulation for future guidance by excluding the extensive costs associated with its litigation with Apple.
After the close of markets on Tuesday, VOXX International Corporation (NASDAQ: VOXX) released its Fiscal 2024 third-quarter financial results for the period ending November 30, 2023. Citing continued challenging macroeconomic conditions in 2023, the company reported that its third-quarter sales declined 5.4% and net income dropped 74.3%. CEO Pat Lavelle, who was participating in an analyst conference call on its earnings by phoning in from CES 2024, started his presentation somberly, saying to analysts that, “2023 has been tough for everyone, not just Voxx. Our entire industry has had a very challenging year.”
Launching today at CES 2024 is a new company of impressive pedigree that purports to offer Smart Home as a Service (SHaaS) through partnering with large national service providers -potentially scaling the category to a level not seen up to now. OliverIQ shared with members of the media their vision for an entirely new kind of multi-protocol, cloud-based, interoperability-enabling solution that just might change the face of the DIY Smart Home market.
Canada’s The Lenbrook Group announced today that it has spun off its digital media and content-related businesses as a separate unit, independent of its hardware brands. The new unit will be known as The Lenbrook Media Group and is to be headed by former MQA Ltd. CEO Mike Jbara.
A new study on corporate return-to-office (RTO) plans shows that 8 in 10 companies say they will track employee office attendance in 2024. The survey also found that those who fail to follow company policy on in-office attendance will face negative consequences for not complying.
Shelly Group AD (formerly Allterco Robotics), a maker of a range of task-specific IoT devices and smart building solutions under the Shelly brand, announced today that it is launching a new Gen3 series of devices at the upcoming Consumer Electronics Show 2024. Shelly offers an innovative line of devices primarily targeted at the DIY hobbyist market, but devices that are increasingly being embraced by integrators as handy problem solvers in the field.
