Strategy in TECH...
In a new report out of Japan, Sony’s TV business is said to be expected to report an operating profit this fiscal year – its first after ten years of losing money. Due to an improved situation in the U.S. market, the report credits the turnaround in Sony’s U.S. results largely as a function of its tightened partnership with retailer Best Buy.
Canadian tech industry website WiFiHiFi (wifihifi.ca) announced today that it has confirmed that Sharp Corp. will exit the Canadian TV market. Much in line with our recent reporting on the troubled brand, this is probably just the first shoe to drop…there will most likely be more.
Hey TECH SMBs…get out your cameras and start snapping! Those bright graphics and dramatic displays in your booth at a trade show…that dazzling product unveiling at a major corporate launch event…a sophisticated setup for an all-new training event – all captured with your smartphone or digital camera and ready to share. You’ll want to consider posting those company & business-appropriate images on Instagram…now the second largest social media network in the U.S., according to new data released by eMarketer.
We’ve been reporting for a while now on the epic survival struggles of some of this industry’s biggest brand names in Japan…most recently Sharp Corp. Some of the changes we’re seeing now were unforeseeable even 24-36 months ago – Sony spinning off divisions, JVC Kenwood pulling out of the consumer business, Pioneer first shutting down A/V, then selling that division to Onkyo, Toshiba pulling out of TV biz, Panasonic dropping consumer business, and on and on…
Now a reporter for the respected Bloomberg View asks, “…why Sharp should still be in business?”
Nortek, Inc. on Tuesday released their fourth quarter and full year results for fiscal year 2014. The company showed sales & profit growth for the quarter – although they booked a net loss for the year. But in a conference call with analysts to discuss the Q4 results, Nortek President and CEO Michael Clarke was questioned specifically about the Audio, Video & Control Solutions (AVC) segment – and he struggled to explain why the company stays committed to the business.
Out of Osaka, Japan we learn that Sharp Corp. is about to embark on a major restructuring of its business that will likely change the company in fundamental ways. Plans call for closing domestic factories – a first for Sharp – staff cuts, and a possible exit from a major business segment for the company. Sharp is also seeking to raise capital, something that is not easy for a struggling company.
New research from Strategy Analytics predicts that shipments of 4K Ultra HDTV are about to take off thanks to new lower prices and homeowners’ growing need to replace aging flat-panel sets. In fact, they predict that almost one out of every two homes in America will have 4K Ultra HDTV in the next five years. The U.S. market will lead the world in 4K adoption.
Big changes are afoot at Tivoli, the quirky audio products manufacturer that had a goal of providing nicely designed, easy-to-use, high quality audio products sold largely direct-to-consumers at reasonable prices. Founded by well-known industry personality Tom DeVesto, Tivoli had, for some time, remarkable success selling an almost retro-designed table radio…at a time when most companies had abandoned that category.
Now, big changes are at play – with DeVesto out and a new Interim CEO appointed by the Tivoli board.
New market research on the smart home market says the global consumer market will grow to be valued at around $58.7 billion by 2020. Market researcher MarketsandMarkets predicts that recent developments in the channel will fuel a 17% compound annual growth rate (CAGR) between 2015 to 2020 leading to the creation of a significant consumer market.
JVC Kenwood Corp. released their financial results for the first 9-months of the current fiscal year (ending March 31st) and the company points to a tremendous swing in profits as proof of the positive impact of their painful, multi-year business restructuring efforts. The company completely turned around a negative profit trend – booking an operating profit, an ordinary profit…and a ¥500 million ($4.2 million) improvement to a modest net loss.
