The release came across the wire at 8:00AM this morning and caught the industry totally off-guard – Harman International Industries, Inc. announced that it has signed an agreement with privately-held The Duchossois Group, Inc. to acquire its AMX, LLC subsidiary for $386 million. The move was not an immediately obvious one for Harman, which has been largely focused on building its automotive electronics division into a worldwide powerhouse.
Strategy
Thanks Boys, We’ll Take It From Here; LG Says It’s Solved OLED Production Issue
Just days after two major promoters of OLED, Samsung Electronics and Sony Corp., announced a pullback of their support due to serious production difficulties causing low panel yields and low profitability – word comes out of South Korea that LG Electronics has solved the puzzle on how to profitably produce OLED panels. And while their competitors are shifting their efforts back to 4k Ultra HD LCD TVs, LG is ready to ramp up a major commitment to OLED.
This could be good news indeed for fans of OLED technology…How did LG do it?… [Read more…] about Thanks Boys, We’ll Take It From Here; LG Says It’s Solved OLED Production Issue
Pioneer Pulls Out of AV
BREAKING NEWS
In yet another sign of dramatic changes afoot that will literally change the face of the TECH industry for years to come – news comes out of Japan that Pioneer Corp. is planning to exit the AV business by selling off its entire AV division. This news follows a similar decision made by JVC Kenwood earlier this year to pull out of consumer electronics to focus on more commercial business.
Pioneer is said to be in active negotiations with Funai Electric, a large OEM manufacturer who recently took over Philips video business, as well as other potential suitors.
Does this deal make sense? Or has the AV world gone crazy?… [Read more…] about Pioneer Pulls Out of AV
Sony Puts OLED on the Back Burner; Ramps Up Deeper 4K Commitment
Just days after a similar announcement from South Korean rival Samsung Electronics, Sony Corp. has said it will put OLED technology on the back burner – scaling back development efforts for the forseeable future. Instead, the company says it sees a greater immediate opportunity with 4K Ultra HD LCD TVs and will work to expand its assortment in this product segment.
While Sony puts OLED on the back burner, it is ramping up its 4K commitment now… [Read more…] about Sony Puts OLED on the Back Burner; Ramps Up Deeper 4K Commitment
JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
In a regulatory filing this month, JVC Kenwood Corp. said it will take dramatic and bold steps to literally change its very core – the operating structure of the company – such that it fundamentally changes the way the company is run. This changing-our-DNA move marks a deep expansion of its previously announced business-spectrum initiatives to move away from its weakening consumer electronics businesses into more commercial enterprises by ensuring that the way it manages itself is completely changed as well.
See more on this surprising move in which JVC Kenwood doubles down on “change”… [Read more…] about JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
Nortek Q1 Sales Grow in All Major Segments, But AV Sales Continue to Decline
Nortek, Inc. released financial results for their fiscal first quarter this week. As a widely diversified provider of largely building-related products, the company noted marked improvement in several key areas over the same quarter last year. With an overall quarterly sales increase from $519.1 million last year to $550.1 million this year, sales increased 6%. But the company still lost money in the quarter – though the loss was less than last year.
Results for Norteck’s TECH segment continue a shift to security and AV continues to decline… [Read more…] about Nortek Q1 Sales Grow in All Major Segments, But AV Sales Continue to Decline
Commercial & Residential Integrators Converge in Manhattan for Sapphire Marketing NYC RoadShow
Sapphire Marketing, a well-known manufacturer’s sales representative company focusing on the commercial and residential integration channels in the Northeast, held their sixth dealer “RoadShow” in mid-town Manhattan on Thursday and Friday of last week. We had the good fortune of being invited to attend the event courtesy of our friend Dawn Allcot of Crestron’s PR department…and we’re glad we went.
See more on this event, including some impressive presentations by major integration brands… [Read more…] about Commercial & Residential Integrators Converge in Manhattan for Sapphire Marketing NYC RoadShow
A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?
This past Saturday, CEPro published a strongly worded report based on anonymous email sources saying Automated Control Technology Partners, Inc., the parent company of Turn it On (TiO), has “fallen on some hard times” and its “office doors were locked” and “employees haven’t been paid for months.” The article also said that the company is “filing for Chapter 11” [bankruptcy] and “that a huge number of employees have been laid off.” CEO Mike Anderson was quoted as disputing many of the points in the article.
We spoke with Anderson who told us – emphatically – that CEPro got it wrong. So what is really going on at TiO?… [Read more…] about A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?
Aggressive Business Restructure Fails to Prevent JVC Kenwood’s Net Loss
JVC Kenwood Corporation released a snapshot of the financial results for its fiscal year that ended March 31, 2014 and – while overall group revenues were slightly better than expected – the profit picture is still quite troubled. Fiscal year total revenues came in at ¥316.343 billion ($3.1 billion)…but the company booked a net loss of ¥6.571 billion ($64.3 million).
See more of the company’s results which suggest benefits from their reorganization are still ahead… [Read more…] about Aggressive Business Restructure Fails to Prevent JVC Kenwood’s Net Loss
Oops! I Did It Again – Gibson Brands Buys Accessory-Maker WOOX from Philips
Oops, they did it again (to quote pop icon Brittney Spears) – Gibson Brands has acquired WOOX Innovations, a Singapore-based brand of accessory products, from owner Royal Philips, N.V., according to an announcement from Philips earlier this week. Another in a line of acquisitions in the consumer electronics space by Gibson, WOOX brings in a complementary line of products and international distribution into its portfolio. This is the second attempt to sell the division by Philips, who had a deal with Funai fall through late last year, resulting in legal action.
