Strategy in TECH...
On Monday, Premium Audio Company (PAC) announced the launch of the Onkyo TX-RZ70, a flagship audio-video receiver that the company says provides “stellar audio performance” along with “studio-level processing.” As a “flagship,” by definition, this model is at the top of the Onkyo AVR line-up and is being launched just three-and-a-half weeks after the launch of Integra’s flagship model, the DRX-8.4.
Russound, a top specialty manufacturer of smart home and connected audio solutions for integrators, announced on Tuesday that the ever-popular Pandora streaming service is now included in the company’s top streaming products. Both the Russound MBX-PRE stereo preamplifier and the MBX-AMP stereo amplifier now have the Pandora streaming service included natively in the device.
JOLED, a Japanese manufacturer of OLED-based panels and products that was formed by the merger of the OLED divisions of both Panasonic and Sony, filed for bankruptcy protection in the Tokyo District Court on Monday. According to the filing, the company reported that it has debts totaling ¥33.7 billion ($257 million).
Azione Unlimited announced that it has elected Savant Senior Vice President of Services & Customer Operations Angela Larson to its advisory board. Unique to the buying group scene, Azione’s advisory board consists of five dealer members and five vendor members who all work together with the goal of “creating, expanding, and implementing the organization’s mission.”
Firenze, Italy-based high-end audio manufacturer Gold Note announced this week that it has selected Fidelity Imports as its exclusive U.S. importer and distributor. According to Gold Note’s announcement, the appointment will take effect starting April 1, 2023.
On Tuesday, less than two weeks after the conclusion of a trial in the case of ClearPlay, Inc. vs. Dish Network where a jury found in favor of ClearPlay and ordered Dish Network to pay $470 million for patent infringement – Judge David Nuffer announced a new ruling that throws out the jury verdict and award. This dramatic turnabout was announced during a court status hearing on Tuesday in which the parties participated via Zoom.
Dish Network, LLC must pay nearly $470 million for patent infringement related to its Autohop Hopper technology that a Salt Lake City District Court jury says infringes on patents held by ClearPlay Inc. The case, originally filed as ClearPlay, Inc. vs. Dish Network LLC, Dish Network Corp., EchoStar Corp., and EchoStar Technologies L.L.C. has been a long-running battle as it was originally filed in March 2014.
Snap One Holdings Corp. (NASDAQ: SNPO) released their fiscal 2022 fourth quarter and full-year results after the close of the market on Tuesday and held a conference call for investment analysts shortly afterward with more details. The company produced a prodigious amount of data that they suggest shows success in the face of adversity, and forecast a decline in their performance in fiscal 2023.
They also said the industry slowed down in 2022 and will continue to be slow for the first three quarters of 2023.
Emerald Holding, Inc. (NYSE: EEX) (Emerald), also known as Emerald Expositions (Emerald Expo), reported their fiscal 2022 fourth quarter and full-year results on Tuesday. Their results, with strong revenue and income growth, clearly establish that the organization is rebounding from the years of COVID with exhibitors and attendees coming back to their events in force.
According to the latest data from national realtor Redfin, sales of luxury homes in the U.S. have declined a record -44.6% for the three-month period ending January 3, 2023, on a year-over-year (YoY) basis. That result outpaced the decline in sales of non-luxury homes of -37.5%.
