I always wanted to be somebody, but I should have been more specific.
Lily Tomlin
Strategy in TECH...
by Ted 2 Comments
In a move that is likely to signify a tipping point in the industry’s adoption of OLED technology, Samsung Electronics is dropping plans to build a new factory that was supposed to help it scale manufacturing of the nascent technology, driving production volumes and lowering cost. But as we’ve reported before, manufacturing OLED…well, it’s just not easy.
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.
Tokyo-based TDK Corp., a diversified tech manufacturing company, announced this week it would launch a high-tech “product development center” in California’s Silicon Valley to develop next generation electronic parts. TDK is mostly known in this country for its past dominance in the magnetic tape business, but is actually quite diversified and one of the leading electronic component manufacturers (i.e. capacitors, sensors) in the world with revenues in excess of ¥8.5 billion ($83.7 million).
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.
by Ted 8 Comments
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.
Yamaha Corporation announced their financial results for fiscal year 2014 (April 1, 2013 – March 31, 2014) and it is mostly good news for the company and its shareholders. However, like other Japanese companies, Yamaha benefited from an extremely favorable currency exchange rate that for some of their divisions was the only good news. Overall, however, Yamaha has much to crow about with sales up 11.8% to ¥410.3 billion ($4.0 billion) and net income up 455% to ¥22.9 billion ($223.8 million).
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).
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.
A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.