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With Loss of Two Potential Buyers, Onkyo’s Future is a Question Mark

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onkyologo

As you most likely know by now, Onkyo Corp. and Sound United have called off their transaction which would have transferred ownership of the 73-year old Onkyo brand, as well as the Integra, Pioneer, and Pioneer Elite brands to Sound United. The shocking news capped off a nearly five month process where many in the industry tried to figure out just how this deal made sense.

This was the second loss of a potential buyer for Onkyo, which admits it is re-evaluating its future based on the failure to sell off its brands.

See why Onkyo’s future is a question mark…

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CEDIA 2019: Onkyo USA Says It Will Become a Retailer of Sonos, a Distributor Too

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onkyologo

Onkyo USA announced this week that it will become a retailer of Sonos wireless music systems – selling the company’s wireless music systems on Onkyo USA’s website. The company also says it will distribute the brand nationally as well.

See more on Onkyo’s partnership with Sonos…

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CEDIA 2019 – SnapAV to Distribute Sonos Wireless Music Systems Nationally

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Photo of multiple Sonos models

SnapAV announced today that it will begin distributing Sonos wireless music systems beginning next month in October. The company says it will offer the entire line – including the Sonos Port, Sonos Move, and Sonos One SL – as part of its extensive assortment of gear targeted to the professional custom integrator.

See more on this announcement from SnapAV & Sonos…

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ADP Jobs Report is a Shocker, Seen as a Red Flag

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On Wednesday, the country’s largest payroll processor, ADP, announced that private-sector employers hired 27,000 people in May. This number was a dramatic reversal from their report on April hiring, which said employers added a remarkable 271,000 people. Many economists and market analysts expressed shock at the surprisingly low number.

See more on ADP’s May hiring numbers…

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Angling at Auction for a Deal on Thiel? Heed This Warning

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Thiel speaker at a show

Last week’s Strata-gee story on the final liquidation of what remains of Thiel not only drew a huge number of readers, it also sent a big chunk of them on to the auctioneer’s website (McLemore Auctions). Many of those readers who journeyed to the auction were in search of a great deal on a good line of Thiel speakers. But then, in an unexpected twist, a source reached out to Strata-gee to offer a warning to those in search of a great deal on Thiel.

Know this before bidding in the Thiel auction…

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Apple Supplier Foxconn Hit Hard by iPhone Sales Drop

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Taiwan’s GDP Declines Due to Apple Cuts

Photo: Nikkei

We have followed Foxconn for years now, first picking up on them in 2012 when news had emerged that a significant Apple supplier was having problems with employees committing suicide – eventually forcing the company to install ‘suicide nets’ on their taller factories and offices to help thwart further suicide attempts. Foxconn has continued on to become one of Apple, Inc.’s largest iPhone supplier of parts and assembly.

Foxconn rode the rising iPhone wave, but what about now?…

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Gibson Says, Sorry Memphis, We’re Outta Here

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Logo for Gibson BrandsJust a matter of months ago, Gibson Brands management assured the town elders of Memphis, TN that the company remained committed to the vibrant music community in Memphis and that they were looking for new digs somewhere within that community. But that was then and this is now – the company was basically taken over by KKR and now the company has decided to vacate Memphis, moving their group there to Nashville.

See more on the incredible shrinking Gibson… [Read more…] about Gibson Says, Sorry Memphis, We’re Outta Here

Foxconn’s Double Dose of Bad News

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A Negative Financial Report & a New Wisconsin Governor Add to Headaches

No doubt about it, Apple Inc. supplier Foxconn has had a really bad week. First, last Tuesday Wisconsin voters kicked Republican Governor Scott Walker out of office, replacing him with Democrat Tony Evers. Then early this week, the company released financial results with disappointing earnings that missed analysts estimates. Both of these unrelated events have combined to cause market analysts to question the company’s strategy going forward.

See more on what these events mean bad news for Foxconn… [Read more…] about Foxconn’s Double Dose of Bad News

Expanding Local Presence, SnapAV Acquires Volutone

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BREAKING NEWS

Graphic of Volutone/SnapAVSnapAV, a leading provider of custom integration brands and products, announced today that it has acquired Volutone, a respected California-based distributor with seven locations throughout California and Nevada. The move expands SnapAV’s local touch points in a key market, a strategy that first emerged with their earlier acquisition of another large regional distributor in March of this year, Chicago’s Allnet Distributing.

See more on this dramatic advancement of SnapAV’s local strategy… [Read more…] about Expanding Local Presence, SnapAV Acquires Volutone

Thiel Audio Files Bankruptcy in Bitter Coda to a Sad Song

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Although owned by an agribusiness tycoon who is rumored to be extremely wealthy, Thiel Audio Products Company last Tuesday declared bankruptcy. The company filed papers with the U.S. Bankruptcy Court saying it had assets of around $900,000 and liabilities of over $1,800,000. The filing was a bitter end to a sad series of developments over the last six years, with new owner David B. Griffin changing management teams at least five times in one five-year period. The result was a constant, if slow, slide down the slippery slope of ruin.

See what is learned from Thiel Audio’s bankruptcy filing… [Read more…] about Thiel Audio Files Bankruptcy in Bitter Coda to a Sad Song