Crestron Electronics announced today that John Clancy, the current Executive Vice President of Residential, is being elevated to Chief Sales Officer, effective immediately. As the company’s top sales executive, the company says that Clancy “will lead and unify the global Crestron sales organization to drive market growth and enhance customer satisfaction.”
Search Results for: supply chain
A First – Data Shows Shipments of Smart Home Devices Dropped in 2022
For the first time since the category has been independently tracked, new data from market research firm International Data Corporation (IDC) shows that global shipments of smart home devices actually declined in 2022. Not only that but while the market researcher predicts that 2023 will see a bit of a rebound overall, its largest segment – Smart TVs – will likely decline again this year.
See the latest data on smart home device shipments
[Read more…] about A First – Data Shows Shipments of Smart Home Devices Dropped in 2022Japan-Based OLED Manufacturer JOLED Files for Bankruptcy
JOLED, a Japanese manufacturer of OLED-based panels and products that was formed by the merger of the OLED divisions of both Panasonic and Sony, filed for bankruptcy protection in the Tokyo District Court on Monday. According to the filing, the company reported that it has debts totaling ¥33.7 billion ($257 million).
Learn more about the bankruptcy of JOLED…
[Read more…] about Japan-Based OLED Manufacturer JOLED Files for BankruptcySnap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi Decline
Red Flags: Residential Market is ‘Softening’; Consumers are ‘Cautious’; Channel Inventory ‘Destocking’
Snap One Holdings Corp. (NASDAQ: SNPO) released their fiscal 2022 fourth quarter and full-year results after the close of the market on Tuesday and held a conference call for investment analysts shortly afterward with more details. The company produced a prodigious amount of data that they suggest shows success in the face of adversity, and forecast a decline in their performance in fiscal 2023.
They also said the industry slowed down in 2022 and will continue to be slow for the first three quarters of 2023.
See more on the latest Snap One earnings report and forecast
[Read more…] about Snap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi DeclineMasimo Hails ‘Momentous Year’ in Fiscal ’22 with Revenue Gains From Sound United Acquisition
But Was It Truly a Momentous Year?
On Tuesday, Masimo Corporation (Masimo) (NASDAQ: MASI) announced the results for its fiscal 2022 fourth quarter and full-year periods. Calling 2022 a “momentous year” for the company, management noted strong revenue growth – mostly from its acquisition of Sound United – as well as several adjusted figures exceeding forecast.
Learn more about Masimo’s results and see what they said about Denon and Marantz performance…
[Read more…] about Masimo Hails ‘Momentous Year’ in Fiscal ’22 with Revenue Gains From Sound United AcquisitionSonos Q1 Report: Revenue? Flat. Profits? Down. Stock Price? WAY Up. Wait, What?
Wall Street can be a fickle partner sometimes. Occasionally, a company will turn in a good performance, but its stock value will decline anyway because the performance wasn’t as good as financial analysts had expected. And sometimes, as is the case this time with Sonos’ fiscal 2023 first quarter results, you can turn in poor performance, and your stock value can take off flying – because this time, your performance was not good, but not as bad as the financial analysts had expected.
See more on the Sonos fiscal 2023 first-quarter performance
[Read more…] about Sonos Q1 Report: Revenue? Flat. Profits? Down. Stock Price? WAY Up. Wait, What?Sources: Snap One has Restructured Operations with Staff Layoffs
Multiple reports are pouring in that Snap One, a leading custom integration supplier, has just completed a restructuring that resulted in layoffs. It is not clear at this point just how many employees were cut, but it was significant enough to motivate several sources around the country to reach out to Strata-gee.
See what we know so far on the Snap One restructuring
[Read more…] about Sources: Snap One has Restructured Operations with Staff LayoffsTech Takes a Turn…Downward
After several years of dizzying growth, the technology sector is now experiencing a notable downturn, as the post-COVID era has brought a combination of higher prices (inflation) and lower demand. In response, 2022 saw significant job cuts at major Big Tech brands that have continued on into 2023. That includes this Wednesday when Microsoft announced it was cutting 10,000 jobs – after a 1,000 job cut in October 2022 – another big blow to Tech.
But what about the more specific segments like consumer electronics and custom integration?
See the latest on tech taking a turn downward…
[Read more…] about Tech Takes a Turn…DownwardVoxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost Cutting
CEO Says Onkyo AVRs Offered to Costco This Year
Citing the “current state of the global economies” and “ongoing supply chain issues” Voxx International (NASDAQ: VOXX) reported the results of their fiscal 2023, third quarter this week and it was a story of more of the same, perhaps intensifying, business challenges that they identified when the company announced its second-quarter results. All of its major business segments reported sales declines – dropping double-digit percentages – with overall sales dropping 25.4% year-over-year. But the company said profits increased on aggressive cost cutting.
Learn more about Voxx Int’l fiscal 2023 third quarter performance
[Read more…] about Voxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost CuttingTop Stories of 2022 on Strata-gee
Well it’s the time of Auld Lang Syne as we say farewell to 2022 and look forward with anxious anticipation for 2023. It was a consequential year of stories for our industry in 2022, and we’ll go over the top stories on Strata-gee this year.