Strategy in TECH...
Russound announced this week that it is partnering with Jetbuilt, a project management software tool that is popular with custom integrators. Separately, the company announced the new products it will be focusing on during the upcoming CEDIA Expo 2022 event.
Lithe Audio, a London, U.K.-based designer and manufacturer of unique, all-in-one, wireless streaming music solutions announced on Wednesday that it is entering the U.S. market for the first time at CEDIA Expo 2022. The company is experienced in supplying products to European commercial and residential channels since its founding in 2014 and is now expanding its distribution here in America. With a unique line of products, such as all-in-one powered in-ceiling/in-wall, surface mount, and outdoor speaker solutions, the company offers a new approach to system configurations.
Late last week, Sony Group announced that they were cutting their net profit forecast for the current fiscal year, fiscal 2022 which ends March 2023. Why are they trimming their profit expectations? It appears that Sony is experiencing its version of a post-COVID Peloton/Netflix sales decline as video game sales are weakening and its costs related to a recent acquisition are rising.
In the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, sales of newly constructed homes (new home sales) in June returned to their months-long downward trend after a brief bump up in May. Another sign of a housing market in decline, rising mortgage rates combined with rising home prices have thrown cold water on what had been a very hot housing market over the last year-and-a-half.
Shizuoka, Japan-based Yamaha Corporation – the world’s largest musical instrument maker that also offers pro, commercial, and residential audio gear is warning markets that the global chip shortage – while improving marginally lately – is still creating challenges that constrict manufacturers’ ability to achieve production goals. It is the first such warning I’ve seen from a company well known for acoustic pianos – but whose electronic instruments and audio gear generate more revenue.
Back in August 2020, I told you about Koss Corporation filing patent infringement claims against Apple Inc, Bose Corporation, PEAG LLC (JLAB Audio), Plantronics, and Skullcandy. It seemed like an improbable journey for the relatively small specialty headphone maker, but they plunged ahead anyway confident that their wireless audio patents had been unfairly infringed.
This week, after two years of legal battles that had intensified in 2022 and on the eve of a jury trial with mighty Apple, Inc. the two parties reached an agreement settling all disputes in a deal that looks really sweet for Koss.
Several Krell-related sources, such as dealers and others, reached out to me on Monday to share the surprising news they had just received in that morning’s email – top Krell executive Walter Schofield has left the company. Other than that basic fact, dealers didn’t know much more as the terse communication from Krell contained very little information. Speculation is running rampant…
Emerald Exposition, one of the largest exposition companies in the U.S. and the owner of the CEDIA Expo (and CE Pro), announced this week that they will be offering “reinvigorated educational programming” at this year’s CEDIA Expo 2022. This initiative will include a range of more than 150 sessions, including seminars, panels, workshops, and manufacturer product training.
More than a year after its initial introduction, and in the wake of chip manufacturers threatening to scale back their U.S. projects, the United States Senate finally took action on Tuesday to move forward on the bill known as the CHIPS Act. After months of at times heavy discussion/arguing, the stage is set for both the House of Representatives and the Senate to vote on its passage, perhaps as early as next week.
After a dramatic double-digit drop in May, June housing starts declined again, with overall starts not only dropping below May’s rate to a nine-month low but also coming in well below the rate in June 2021. Single-family starts in June hit their lowest seasonally adjusted annual rate since July 2020.
