By almost any measure, the housing market is in a major rebound, with the U.S. Commerce Department reporting on Tuesday that residential construction starts jumped an impressive 22.6% in July. This is the largest jump in housing starts in almost four years, according to a report by Reuters.
Onkyo Closes US Subsidiary, Terminates Dealers, and Outsources Distribution to Klipsch
A Strangely Retroactive Notification
Last week, a letter was sent to all Onkyo dealers in the United States notifying them that their dealer agreements were being terminated. The reason for this termination? Onkyo USA Corporation no longer exists and therefore can no longer serve them. Don’t miss the significance of this historic moment – for the first time in 45-years there is no Onkyo subsidiary in the U.S., once the largest market for parent Onkyo Pioneer Corporation (OPC) of Osaka, Japan.
See more about this turn of events at Onkyo…
[Read more…] about Onkyo Closes US Subsidiary, Terminates Dealers, and Outsources Distribution to KlipschSmall Headphone Specialist Koss Corp. Attempts to Slay Giants Apple, Bose & Others in Court
Milwaukee, WI based Koss Corporation (NASDAQ:KOSS) last month launched a significant litigation effort against several major industry brands in an effort to assert and protect its IP portfolio rights. On July 22, 2020, Koss filed lawsuits against each of Apple, Inc., Bose Corporation, PEAG LLC dba JLAB Audio, Plantronics, Inc., and Skullcandy, Inc. Each of these auspicious brands, Koss says, are infringing on their patents covering wireless headphones and speakers.
See more on this audacious move by Koss…
[Read more…] about Small Headphone Specialist Koss Corp. Attempts to Slay Giants Apple, Bose & Others in CourtMaking Space for Onkyo Brands, Voxx Announces Subsidiary Reorganization
Voxx Expects Big Growth; That May Be a Bigger Challenge Than Anticipated
As part of an internal restructuring to accommodate their recent acquisition of the distribution rights to certain Onkyo brands, Voxx International Corporation announced this week that it has renamed the existing Klipsch Holding LLC to the rather generically named Premium Audio Company LLC. This is just the first change, as I’ve learned more announcements are just around the corner.
See more on the Voxx & Klipsch plans for Onkyo…
[Read more…] about Making Space for Onkyo Brands, Voxx Announces Subsidiary ReorganizationCorp. Comms. Expert Crestron Launches Flex MM for Growing WFA* Future
*Work From Anywhere
By now, most in the industry know that Crestron Electronics, the widely renowned luxury residential electronics systems manufacturer, is also a large major supplier of high quality and mission critical solutions for the corporate commercial and industrial markets. Today, the company is announcing that their two divisions worked together to create a new product called the Flex MM – a unique, flexible, unified communications solution that is just about perfect for the new Work From Home…or as Creston likes to call it…the Work from Anywhere…remotely distributed workforce.
See more on this new solution from Crestron…
[Read more…] about Corp. Comms. Expert Crestron Launches Flex MM for Growing WFA* FutureAudioControl Introduces Dirac Live Bass Control Technology in Cinema Line
Specialty electronics manufacturer AudioControl and advanced digital room correction technology provider Dirac have teamed up to bring Dirac’s latest Dirac Live Bass Control technology into AudioControl’s line of high performance AV receivers, preamp/processors, and amplifiers. The perfect marriage of technology and application, this partnership will help spread Dirac’s technology throughout the custom integration community where AudioControl has a strong and supportive network of dealers.
See more on the AudioControl & Dirac partnership…
[Read more…] about AudioControl Introduces Dirac Live Bass Control Technology in Cinema LineCOVID-19 Claims Another Victim – The 2021 Florida Audio Expo
The Florida Audio Expo announced this week that they are cancelling their February 2021 high-end audio exposition due to “the extraordinary times and continued uncertainty.” Although their announcement does not explicitly name COVID-19 or SARS-CoV2, comments by show founders make it clear, noting that they “put our customers well being first.”
See more on the cancellation of the Florida Audio Expo…
[Read more…] about COVID-19 Claims Another Victim – The 2021 Florida Audio ExpoSonos Fiscal Q3 Result Shocks Wall Street; Stock Value Skids 18%
Many Thought the Pandemic was Sonos’ Moment to Shine…Apparently Not to Be
Although Sonos CEO Patrick Spence and CFO Brittany Bagley both proclaimed that the Sonos fiscal Q3 results were “better than expected,” the fact that they reported that revenues had declined and the company booked a much larger net loss seems to be rubbing investors the wrong way. As of this writing on August 6th, the value of Sonos shares have declined more than 18% in afternoon trading.
See more on the Sonos fiscal Q3 results…
[Read more…] about Sonos Fiscal Q3 Result Shocks Wall Street; Stock Value Skids 18%A COVID Catastrophe – Emerald Reports 93% Drop in Q2 Revenues; Confirms Insurance Payments
Owner of CEDIA Expo & CEPro Looks to Turn the Corner from COVID…Some Day
Emerald Holding Inc. (NYSE:EEX) – formerly Emerald Expositions Events, Inc. – released their fiscal 2020 second quarter results this week and it’s no surprise that they were brutal, as the company continues to find itself caught in a COVID catastrophe that is killing in-person events, like the very expositions they produce. With the second quarter covering the period of April – June, the previous peak of the pandemic’s infections and deaths (since exceeded), the company performance – as expected – was really challenged, with the bulk of their various trade shows and in-person events cancelled or postponed.
But the company did have one piece of good news…the insurance companies providing event cancellation insurance to the company have begun paying against their claims.
See an analysis of Q2 results for Emerald…
[Read more…] about A COVID Catastrophe – Emerald Reports 93% Drop in Q2 Revenues; Confirms Insurance PaymentsQ2 GDP Crashes 33% in Worst Economic Quarter in Recorded History
In new economic data released by the government today, the real gross domestic product (GDP) for the second quarter of 2020 declined an astonishing 32.9%, the worst ever such reading in recorded history. This result follows a decline of 5% in the first quarter and demarks a deep and painful recession resulting from the impact of the COVID-19 pandemic engulfing the United States, and the world.