The Nikkei in Tokyo is reporting today that JVC Kenwood has revealed that it expects to achieve ¥13 billion ($158 million) in net profit for fiscal 2015. This rate is more than double its fiscal 2011 level of profit…and an ambitious target.
Manufacturers
Thiel Audio Products Acquired by Tennessee Private Equity Company
BREAKING NEWS
Strata-gee.com learned from sources early today that Thiel Audio Products was sold last week to a Nashville, TN-based private equity company. Late today, the company distributed a formal press release confirming what we have heard. Kathy Gornik, CEO and President of the company is said to be leaving effective immediately and the release refers to “New Thiel CEO Bill Thomas.” [Read more…] about Thiel Audio Products Acquired by Tennessee Private Equity Company
AVWeek Features strata-GEE.com Post on Nortek Consolidation
AVWeek, a regular podcast produced by AVNation that sums up the top stories in Audio/Video for the week, featured a post by strata-GEE.com in their November 23rd podcast (published November 26) titled “Episode 67 Canadian Quarters.” The podcast – which features a 55-minute topical discussion by AV-industry luminaries Dawn Meade (Net-AV), George Tucker (World Stage), and Matt Scott (Omega Audio Video) – included a segment based on our post about the recent Nortek consolidation and creation of their new ProAV Group.
See what these A/V pros thought about the strata-GEE.com post…and about Nortek’s consolidation… [Read more…] about AVWeek Features strata-GEE.com Post on Nortek Consolidation
Moody’s Cuts Panasonic’s Credit Rating for the Third Time This Year – Now Near Junk
Panasonic Corp., once one of the most powerful electronics companies in the world, now finds that its credit rating has been lowered by Moody’s Investors Service to the lowest level still considered investment grade – only one step above junk. Moody’s, one of the largest credit rating agencies, has revised Panasonic’s rating twice before this year – and this third revision dropped the company’s credit rating two grades to Baa3…the lowest level considered investment grade.
What prompted Moody’s to make this huge downgrade of Panasonic’s credit?… [Read more…] about Moody’s Cuts Panasonic’s Credit Rating for the Third Time This Year – Now Near Junk
Sharp Asks 2,000 Employees to Leave – 3,000 Raise Their Hands
Sharp Corp., the struggling Japanese manufacturer that is widely reported to be scrambling to survive, recently offered buyout packages to employees hoping that 2,000 would agree to leave the company. To their surprise, almost 3,000 employees volunteered to leave – good for the company, but a sign of their lack of confidence in the company’s ability to return to profit anytime soon.
See more on this latest indicator of the company’s struggles…
[Read more…] about Sharp Asks 2,000 Employees to Leave – 3,000 Raise Their Hands
Nortek Consolidation Continues; Creates New ‘ProAV Group’
BREAKING NEWS
Nortek Inc. announced this morning that it has consolidated several of its brands into a new organization that they call the “ProAV Group.” Consisting of several Nortek brands that were conspicuously missing from their recently formed “Core Brands” group, the ProAV Group combines Gefen, TVOne, and Magenta Research into one consolidated group.
See more on this latest round of Nortek consolidation… [Read more…] about Nortek Consolidation Continues; Creates New ‘ProAV Group’
France’s Legrand Buys NuVo Technologies
The French conglomerate Legrand’s North American subsidiary announced today that it has purchased Hebron, Kentucky-based NuVo Technologies, LLC. NuVo, a whole house audio solutions provider will continue to run as a freestanding, independent company focusing on the home audio market according to the Legrade announcement. While the products will continue to feature the NuVo brand, the company will now operate under the auspices of Legrand’s Home Systems division.
See more about this unexpected announcement… [Read more…] about France’s Legrand Buys NuVo Technologies
Sharp in Talks with Intel and Qualcomm to Receive Capital Investment
BREAKING NEWS
According to multiple reports from Reuters, Nikkei and others, Sharp Corp., the troubled Japanese consumer electronics manufacturer, is in negotiations with Intel Corp. and Qualcomm Inc. about a much-needed capital investment. Sources are telling the media that Sharp may receive as much as $378 million from the companies. The news was enough to send shares of Sharp stock soaring in Japan.
See more on this surprising twist in the Sharp saga… [Read more…] about Sharp in Talks with Intel and Qualcomm to Receive Capital Investment
Onkyo Forges Global ‘Strategic Collaboration’ with Imagination Technologies Group
Out of Tokyo, Japan this past Monday came word of a new global strategic collaboration between Onkyo Corporation, U.K.-based Imagination Technologies Group, and Imagination’s consumer division known as Pure. A global technology creator, Imagination Technologies Group largely focuses on multimedia, cloud, mobile, and connected audio technologies – often licensed to major consumer brands as part of their product offerings.
See more on this technology agreement…and what it portends for future Onkyo products… [Read more…] about Onkyo Forges Global ‘Strategic Collaboration’ with Imagination Technologies Group
OK, 3D HDTV Flopped – Industry Turns to Next Trick in Bag: Ultra HDTV
[PHOTO: Junko Kimura/Bloomberg via Getty Images]
