A former high-level Samsung Electronics executive was indicted on Monday for industrial espionage as it is alleged that he stole trade secrets in the form of blueprints and designs for an advanced Samsung chipmaking factory in order to create an identical one in China. South Korean prosecutors say the executive’s actions jeopardized national economic security, according to a report by the Reuters News Agency.
Manufacturers
Will Audio Research Corp Actually Be Acquired by Acora Acoustics?
So much has transpired over the last two weeks in the matter of Audio Research Corp’s status as it operates under Assignment for the Benefit of Creditors, a form of receivership. Several more documents have emerged that serve to shed more light on just precisely what is going on.
See all the latest on the status of Audio Research Corp’s journey to a new owner
[Read more…] about Will Audio Research Corp Actually Be Acquired by Acora Acoustics?Parasound CEO Sheriff Presents His Plan to Dealers; Some Won’t Be Around to Benefit
Last week, in a national online Teams conference with dealers, Parasound CEO David Sheriff presented his plans for the company’s future. Tightly scripted, the CEO spoke with a firm resolve in a no-nonsense manner. It was clear that the initiatives he announced that day were not topics for more discussion or debate, but rather what is going to happen. And he made it clear that some dealers viewing the online presentation that day will likely not agree with these plans, and that’s fine.
“Let’s talk about parting ways,” Sheriff said, looking directly into the camera without blinking.
Learn more about the Parasound dealer conference
[Read more…] about Parasound CEO Sheriff Presents His Plan to Dealers; Some Won’t Be Around to BenefitNew AI-Powered Savant Smart Network Delivers More Than You Dreamt Possible
What if I told you that the new Savant Smart Network is a truly unique, game-changing networking solution that can deliver more than you dreamt possible? It can deliver a continuously optimized network experience for a happier client. It can deliver new profit opportunities for your integration business. It can deliver the ability for your techs – even lower-level techs – to quickly and easily troubleshoot and resolve sophisticated wired/wireless network issues.
Do I have your attention now? Read on…
[Read more…] about New AI-Powered Savant Smart Network Delivers More Than You Dreamt PossibleVOXX SHOXX Market with Double-Digit Percentage Sales Declines & Deepening Losses
VOXX Stock Value Drops Nearly 30%
Yet more evidence of an industrywide downturn emerges, this time from VOXX International’s Fiscal 2023 fourth quarter and full-year results. After claiming that “…we had a lot of positive developments and continued to win new business and expand globally,” Voxx President Pat Lavelle went on to blame “inflation,” “fears of recession,” “the retail environment,” and “supply chain constraints,” for creating “roadblocks” to the company’s performance this year. Roadblocks, indeed…
Learn more on VOXX’s results in Fiscal 2023
[Read more…] about VOXX SHOXX Market with Double-Digit Percentage Sales Declines & Deepening LossesSonos Stock Drops 25% as Fiscal 2023 2nd Quarter Hit By Slackening Demand
After the close of the stock market Wednesday, Sonos, Inc. released its fiscal 2023 second quarter (Q2) financial results. The numbers were pretty rough, but the company had previously adjusted its forward forecast downward. Yet even though the company’s latest Q2 numbers beat analysts’ revenue forecast and were in line with their guidance, the market reacted negatively. How negatively? Sonos’ stock lost more than 25% of its value on the day after the Q2 earnings were announced.
Why such a strong reaction? Read on…
See why investors were spooked after the Sonos earnings report
[Read more…] about Sonos Stock Drops 25% as Fiscal 2023 2nd Quarter Hit By Slackening DemandMasimo Reports Fiscal ’23 First Quarter Results; Stock Slides on Margin Decline
How Did Masimo Consumer – aka Sound United – Perform?
Masimo Corporation (NASDAQ: MASI) released the financial results for its first quarter of fiscal 2023 (the quarter that ended on April 1, 2023), and at first glance, the numbers looked pretty good. The company reported revenues grew by an eye-popping 87.5% over the same quarter last year, a number that beat analysts’ estimates. Not only that, but the company delivered adjusted earnings per share of $0.87, which were also well over analysts’ projected adjusted earnings per share of $0.83.
Yet Masimo stock value crashed by more than -5¼% after the announcement. Why?
[Read more…] about Masimo Reports Fiscal ’23 First Quarter Results; Stock Slides on Margin DeclineYG Acoustics Launches 3rd Gen of Reference Line at Munich High End
Denver-based YG Acoustics has announced it will debut the third generation of its Reference line of loudspeakers – called Reference 3 – at the upcoming Munich High End show, running from May 18 to May 21. The Munich event is one of the world’s preeminent high-end audio expositions. As such, it is the perfect venue for the company to launch its latest generation of Reference with many new technological innovations sure to be appreciated by the event’s audiophile attendees.
Learn more about YG Acoustics at the Munich High End Show
[Read more…] about YG Acoustics Launches 3rd Gen of Reference Line at Munich High EndMinn. Bank Asks Court for $1.5M+ Judgment Against Audio Research Corp & Trent Suggs
Minnesota Bank & Trust (MB&T) of Minnetonka, MN has filed documents with the Fourth Judicial District of the Minnesota District Court notifying the court of the existence of a secured agreement with Audio Research Corporation (ARC) and its principal owner, Trent Suggs. This agreement, the bank wants the court to know, has been subject to “Numerous events of default” which “are continuing.”
With this being the case, the bank is asking the court to issue a judgment for the amount owed, plus accrued interest, plus attorneys’ fees, and other collection costs – an amount in excess of $1.5 million.
See more on events surrounding Audio Research Corp & Suggs
[Read more…] about Minn. Bank Asks Court for $1.5M+ Judgment Against Audio Research Corp & Trent SuggsMasimo v. Apple – Judge Declares a Mistrial as Jury Hopelessly Deadlocked
BREAKING NEWS
In a result likely to be viewed by many as anti-climatic, U.S. District Judge James V. Selna has declared a mistrial in the matter of the $1.8 billion trade secret lawsuit between Masimo Corp. et al vs. Apple Inc. et. al. And while I am sure that both sides are disappointed that they failed to prevail, both can take away some positive elements from this null decision that will most likely inform their approach in a new trial.