Wayne, NJ-based Electronics Expo, an independent regional retail chain selling quality A/V electronics, has entered bankruptcy as of March 31st. The company, which at one time had as many as eight locations at its peak, is now down to two showrooms and one outlet center at its offices, according to a report by NorthJersey.com. Electronics Expo is owned by Leon Temiz, once a partner with family members in another regional player, Sixth Avenue Electronics.
Industry Trends
Nortek’s TECH Segment’s Troubled Transformation
In a recent fiscal year 2012 fourth quarter and full-year report, Nortek, Inc. showed a mixture of hit-and-miss results with fourth quarter sales dropping 5.6% to $505.4 million as compared to Q4 2011’s $535.2 million. Worse yet, the company’s Q4 net loss increased from last year’s $800,000 to a substantial $12.5 million. These results were in spite of the fact that this year’s calendar for the quarter had two more days in it than the quarter last year.
However, Nortek’s overall annual results showed a brighter picture with 2012 sales increasing to $2.2 billion, up 2.8% from the previous year’s $2.14 billion. Net profits in 2012 came in at $9.5 million – a substantial improvement over 2011’s net loss of $55.9 million.
But one other thing came through loud and clear…Nortek’s TECH segment remains troubled… [Read more…] about Nortek’s TECH Segment’s Troubled Transformation
Monster Creates $30K ‘Crown Jewel’ Headphone for Harrods of London
Monster Products announced late today that it has created a one-of-a-kind “crown jewel” headphone based on its Diamond Tears model as redesigned by Korean artist and jewelry designer Sally Sohn for the exclusive Harrods of London department store. The new headphones feature 5.56 carats of black diamonds and plenty of 18k gold…oh, and it comes with a hefty price tag of £20,000. That’s $30,000 in good old U.S. greenbacks.
See this remarkable headphone below. Will this be Monster’s tour de force? Or a tour de farce?… [Read more…] about Monster Creates $30K ‘Crown Jewel’ Headphone for Harrods of London
FCC to Test Ultra HDTV Broadcasts
Just when you thought then dust had finally settled on the switch from analog to digital high-definition television broadcast, and adding fuel to the heated debate over 4K Ultra HDTV, we learn that the Federal Communications Commission (FCC) earlier this month approved a test of Europe’s OFDM-based DVB-T2 format. Could the U.S. government be quietly putting in place plans for an Ultra HDTV broadcast future?
Critics of Ultra HDTV complain that there is no content or UHDTV broadcasts…yet… [Read more…] about FCC to Test Ultra HDTV Broadcasts
Plasma: The Rumors of My Death Have Been Greatly Exaggerated
The conventional wisdom in the world of television technology is that LCD won the panel platform wars and most talk of the future has moved from LCD to LED to OLED and beyond. But wait a minute, as new data from market researcher Quixel Research shows, don’t bury plasma in the grave just yet…
The rumors of plasma’s death appear to be greatly exaggerated as the tech shows growth in 2012… [Read more…] about Plasma: The Rumors of My Death Have Been Greatly Exaggerated
Yamaha Board Orders Major Restructuring; Revises FY2013 Forecast Downward to Break-Even
BREAKING NEWS
Yamaha Corporation announced yesterday in Japan that its Board of Directors has ordered a major restructuring of the company’s domestic operations – in one case merging eight separate operating subsidiaries into one. The company has also released results for FY2013 through the third quarter ending December 31, 2012 and revised its annual forecast downward from a profit to break-even as a result of extraordinary charges related to the restructuring as well as sales and profit declines.
See details on the dramatic steps Yamaha’s Board is taking to try and improve efficiency & profitability… [Read more…] about Yamaha Board Orders Major Restructuring; Revises FY2013 Forecast Downward to Break-Even
In a Surprise Move – Sharp is Negotiating to Merge It’s Foundering TV Operations with China’s Lenovo
BREAKING NEWS
The Nikkei is reporting today that Sharp Corp., the struggling Japanese flat-panel TV manufacturer, is in the final stages of negotiations to merge its television division with China’s largest personal computer manufacturer – Lenovo Group, Ltd. If successful, Lenovo could leapfrog the competition to become one of the largest television manufacturers in the world.
See more on this surprise announcement out of Japan… [Read more…] about In a Surprise Move – Sharp is Negotiating to Merge It’s Foundering TV Operations with China’s Lenovo
Ever-Optimistic, At CES 2013 the CEA Releases New Growth Estimates for Industry
Every year at the Consumer Electronics Association’s (CEA) annual International Consumer Electronics Show (CES) in Las Vegas, NV, the organization releases new marketing data including forecasts about the future growth of the industry. According to the trade group, revenues for the electronics industry will reach $209.6 billion in 2013 – another new record and well over last years $204 billion level.
Even among participating companies in the CEA’s long-running marketing data collection program, there are often chuckles and whispered question marks about the accuracy of the aggregated forecasts. With one exception (2009), the CEA is famous for releasing optimistic growth forecasts that only go one way – up.
See what segments the CEA says you should be in, if you want big growth in 2013… [Read more…] about Ever-Optimistic, At CES 2013 the CEA Releases New Growth Estimates for Industry
10 Connected Technology Companies Debut The Internet of Things Consortium at CES 2013
One of the more interesting of the seemingly endless series of announcements at CES 2013 was one that heralded the formation of a new trade association called the Internet of Things Consortium (IoTC). Utz Baldwin, CEO of Ube, clued us in because, as we were to learn, Ube is one of the founding companies.
What is the Internet of Things Consortium all about? See more below… [Read more…] about 10 Connected Technology Companies Debut The Internet of Things Consortium at CES 2013
CES Overview – A Lot of Nervous Laughter
Today is DAY ONE of the 2013 International Consumer Electronics Show (CES) taking place in Las Vegas, NV and running through Friday. While many attendees arrived today, most of the press has already been here – lost in the desert – for the last two days…desperately searching for even just a drip…of innovation…
