Strategy in TECH...
More patent decisions are being handed down as several long-running patent lawsuits between Masimo Corporation (Nasdaq: MASI) and Apple Incorporated (Nasdaq: AAPL) wrap up. Last week, a jury in the matter of Apple Inc. (Plaintiff) v. Masimo Corporation and Sound United LLC (Defendants) rendered a verdict on a case where Apple accused Masimo of infringing on six of its Apple Watch patents.
Technically, Apple got a win…but realistically, it was a huge victory for Masimo.
As I reported last week, I attended the October 15, 2024, Grand Opening of the latest Crestron Experience Center (CEC), located in the prestigious New York Design Center in Manhattan. This CEC is remarkable in its own right, but as I reflected further on the Grand Opening I realized that the event itself was noteworthy. Not only did a top Crestron executive sit down with me to offer some interesting perspectives on the new CEC and business in general, but what I observed at that event itself was impressive as well.
So I have decided to augment my previous report with additional observations…and more photos.
While Sonos (Nasdaq: SONO) claims to have most of its app problems behind it, multiple reports are emerging that suggest it may have an even bigger problem – the introduction of its Ace premium headphone has flopped. If these reports are true, then Sonos may indeed be staring into the jaws of the one monster that can truly terrify it – growing consumer resistance to its new products.
Masimo Corporation (Nasdaq: MASI) announced that it has expanded the company’s Board of Directors with two new appointees. The medical products manufacturer, which also owns the Sound United audio brands, will now have a total of eight directors on its board.
Crestron Electronics, a worldwide industry leader in both the commercial and residential smart technology space, has opened a dramatic and dynamic new Crestron Experience Center (CEC) in the heart of Manhattan at 200 Lexington Avenue in the renowned New York Design Center. A grand opening ceremony was held with the media, customers, integrators and other special guests on Tuesday, October 15th, previewing the space which offers visitors an expansive roster of “hands-on” experiences and even includes a “workshop” for true first-person experiences where visitors can – among other things – discover new possibilities they didn’t know existed.
While many things have changed in the wake of Joe Kiani’s exit from Masimo Corporation (Nasdaq: MASI) – and many more changes are likely still to come – one thing continues on, the many lawsuits existing between Masimo and Apple Inc (Nasdaq: AAPL). And in the last few days, we have learned of two significant developments in that regard. One is a significant win for Masimo…and the other a significant win for Apple.
However, the war between these combatants continues…
Coastal Source, one of the industry’s leading providers of outdoor audio and lighting solutions announced this week that current President Jeff Poggi will be moving outside the company to take a new role as a consultant. The move will take place at the end of this current calendar year.
Sonos (Nasdaq: SONO) announced this week that it was issuing new quality and customer experience “commitments,” as it seeks to rebuild its deteriorating reputation in the wake of a disastrous app launch earlier this year that has caused many, if not most, Sonos systems to stop operating properly – if they operate at all. There has been tremendous upheaval among Sonos customers who have reacted angrily and negatively on Sonos-related message boards and other social media sites.
And now, just last week, Morgan Stanley analysts issued a rare “double downgrade” on Sonos shares – a significant ratings drop indicating that it expects the value of Sonos stock to underperform the market in the near- and mid-term future. Morgan Stanley’s analysis of why this double downgrade was necessary is pretty devastating.
Savant released several announcements at CEDIA Expo 2024, each of which was interesting on its own. Seeing these announcements reminded me of some of its past announcements – such as the acquisition of GE Lighting and J Geiger Shading – that were also interesting in their own right.
But only when you start putting these and other company developments together, like individual pieces of a mosaic, does a picture emerge of just where Savant is headed. And that picture…is truly compelling one of a smarter Smart Home.
I’m thinking of pitching Bravo Network on my idea for a new reality TV show called something like …Masimo Manic Mysteries…or Politan Proxy Obsessions… What do you think? I’ve got tons of material to pull from. I’ve followed many proxy battles over the years, but this one definitely wins the prize as the most personal and brutal battle I’ve seen. In the first twelve days of September, there has been no fewer than seventeen new proxy revisions, investor letters, and proxy-related press releases (four separate filings just today!) filed and mailed to investors. Investor’s heads must be spinning…I know mine is!
And of course, as the 2024 Annual Stockholders Meeting approaches – only one week away – the drama continues to ramp up as management continues to dig in to save their jobs while investors keep shoring up more votes. It’s getting really ugly.
