Strategy in TECH...
There’s been a lot of action this week on the OLED beat – in this case, news that holds promise for a new robust competitor in the OLED market. The company, known as JOLED (for Japan OLED), is a joint venture between two TV powerhouse brands and a major display manufacturer that has successfully raised money to complete a new OLED factory.
Last week Sonos (Nasdaq: SONO) announced a new CFO to replace current CFO Mike Giannetto, whose retirement was unexpectedly announced almost as an afterthought in a February report of Q1 fiscal results. Late in the text associated with those results, CEO Patrick Spence, in an almost casual fashion, thanked Ginnetto for his service and told investors the CFO was retiring…a total surprise to the market. Sonos stock dropped double digits…and dropped even though the company had reported a record first quarter. (Read my report to see troubling signs within the ‘record’ Sonos quarterly report…)
On March 28th CEDIA held a grand opening gala to celebrate their brand new $14 million glass and stone castle in Fishers, IN with about 250 of their closest friends. Depending on your viewpoint, this new facility is either a shining shrine to the strength of the custom integration tech association – or it is a monument to the monumental arrogance and ego of an association that is drifting further away from the very community it purports to serve.
But what many of these guests to the opening celebrations didn’t know was that, as they sipped champagne and oohed an ahhhd over the new gorgeous digs, there was yet another small member flare-up taking place in the background…with significant members expressing strong dissent on yet another Association initiative.
In a new survey by Reputation Institute on corporate reputation, known as the 2019 RepTrak 100, we see wild swings in tech brands’ reputation with consumer privacy concerns finally appearing to take a major toll. With an overall all-category average reputation rating increase of +0.8 points, technology as a segment saw its collective reputation drop by 1 full point on the scale.
But the news wasn’t all bad – movie king Netflix, Inc. jumped 23 spots to come in at #1 for the first time in their history.
Como Audio, Tom DeVesto’s latest innovative venture and maker of fine streaming smart speaker systems, has launched a funding campaign on Wefunder, seeking to raise between $100,000 to $1,000,000 in equity investment. Investors on the Wefunder site can buy preferred shares of Como Audio stock priced at $2.50/share and own a piece of the company.
Like many countries, Japan is facing a dramatic shortage in the number of available high-tech workers. To address this situation, the country has decided to make computer programming classes mandatory for all students, starting in elementary school. Students will be mandated to study coding for their entire educational experience, every year from 5th grade through high school graduation in the hopes of filling the high-tech worker shortfall and catching up with the rest of the world.
HiberSense, an emerging provider of smart residential and commercial climate solutions, announced this week that it has hired Chris Lawson as their new Channel Sales Manager for the US. Lawson will represent the line to residential and commercial integrators as well as HVAC contractors anywhere in the nation.
Control4 has recognized a new class of 67 dealers whose level of business with the brand has earned them the designation as a Pinnacle status partner. Pinnacle status, Control4 says, is a lifetime achievement that indicates their importance as a highly supportive partner.
Global competition continues to heat up and nowhere is that more obvious than a recent analysis from the World Intellectual Property Organization noting that in 2018 – for the first time in human history – the region of Asia filed the majority of all international patent applications. This new reality suggests that Asia is “rapidly increasing their presence in global innovation,” the report says.
And which company in particular was tops in the world for innovation? WIPO says it was Huawei Technologies, who filed the most patents from a single company in the world.
American companies are increasingly moving tech jobs to Canada, where easier immigration policies make it much easier to hire foreign tech workers than it is here in the U.S. where the Administration has taken steps to make it more difficult. That mean these companies are expanding their operations in Canada…especially in their tech divisions…turning certain Canadian cities into the next great tech hubs in North America.
