Strategy in TECH...
Melrose Industries Plc has announced that their financial results for fiscal 2020 and it wasn’t pretty. The company swung to a net loss on lower revenues. They said this was mostly due to the Coronavirus pandemic’s massive impact on its GKN Aerospace division. To streamline operations and raise cash, Melrose told the press that it has again put Nortek up for sale.
When two power players decide to create something new together, the result could potentially shake the earth and be felt by all in the industry – especially by their competitors. Such was the first thought that came to mind when I learned that Crestron Electronics and Origin Acoustics – one, a home automation and integrated systems Jedi Master…and the other, a leading brand in premium architectural audio solutions – came together to create a new line of residential audio products under the Crestron brand.
Legrand AV announced today that it has selected NuTech Group as its new manufacturers sales representative for the Mid-Atlantic region. NuTech will provide sales and technical support for the wide roster of Legrand’s residential custom integration lineup.
Late last week, multiple news services reported that US President Joe Biden has signed an executive order directing a “broad review” of the supply chains for critical materials – critical materials that include, by the way, semiconductors. The fact is, this might not end well for Tech…
This week, AudioControl said it has awarded Market Share, a manufacturer sales representative firm, its 2020 Rep of the Year for their home audio products division. Market Share is based in the Pacific Northwest and covers the entire region, including Alaska.
Since Strata-gee began tracking the story of our stressed-to-the-brink supply chain last year, the situation has only become more dire. Not only has the pandemic caused a once-in-a-hundred-years impact on the supply chain, but adding to that whipsaw from the collapse of demand to then off-the-charts demand, we can now add fires, earthquakes, and snowstorms to the mix.
It all adds up to a concerning level of stress to our supply chain that will impact product availability in multiple product segments, including residential and commercial technology.
Crestron formally announced today (Wednesday) the details on the 2021 iteration of its famous Crestron Masters training event, a highly popular deep-dive training initiative offered to “the AV industry’s premier programmers, designers, and salespeople.” All the cool kids will be there, and you should be too. See more below…
Amazon.com Inc.’s secretive tech innovation development center, called Lab126, is said to be working on a more robust, step-up smart home control solution designed to be mounted into the wall, in a bid to take share in the custom integration channel. The move, first reported by Bloomberg News, is designed to take on major players such as SnapAV’s Control4 and other “professionally installed smart home control” providers.
At the end of January, Savant held their popular annual Integrator Summit – its 15th summit ever…but its first such summit held online as a virtual one. In a Zoom meeting with industry media following the summit, President J.C. Murphy recapped the event which is held privately with only Savant integrators in the room.
Savant had a lot to talk about.
Like the hero in their anime movie Demon Slayer, Sony has blown away investors with their latest (and probably last) revision to their fiscal year net profit estimate. Announced on Wednesday, the company now says that it forecasts that it will set a new all-time record net profit for the fiscal year that ends in March. The major reason? A shift in focus away from hardware to services and content revenues and profits.
