Last month, Toshiba Corp. warned the financial markets in Japan that they were launching an internal investigation into “possible problems” with its accounting. The stock exchange’s reaction to the announcement was swift, with the company’s stock price having its biggest one-day drop in value in more than a year. Now unnamed sources are telling the media that the company will have to restate its profits…for a three-year period.
Brands
ELAC Returns to N. America w/New Speakers Designed by Andrew Jones
Company Opens New S. California Design Center
German speaker manufacturer ELAC announced today that it has returned to the North American market with a new line of speakers, a new U.S. design center and – perhaps most significantly – a new Vice President of Engineering, the highly respected Andrew Jones. The company plans to launch their new ELAC Debut™ speaker line at the upcoming T.H.E. Show Newport in Irvine, CA at the end of this month.
See more on this surprising, multi-faceted announcement… [Read more…] about ELAC Returns to N. America w/New Speakers Designed by Andrew Jones
Onkyo Sets New Global Strategy Focused On Portables & Headphones
Osaka, Japan-based Onkyo Corporation says it has set a new global growth strategy that will focus on launching portable music players and headphones, thanks largely to resources it received in its acquisition of Pioneer’s home AV division. In an interview appearing in Japanese media, Onkyo President Munenori Otsuki said the world is entering “the age of portable music players.”
See more on this surprising shift of direction from a significant audio industry player… [Read more…] about Onkyo Sets New Global Strategy Focused On Portables & Headphones
Kaleidescape Hires Reps
We’ve been hearing for weeks about an effort by media server marker Kaleidescape to quietly hire sales representative companies around the country. Not quiet anymore, Kaleidescape officially announced today that it has augmented its direct sales force with a group of eight independent sales representative companies.
See more on this widely anticipated development… [Read more…] about Kaleidescape Hires Reps
Nortek’s AVC Segment in Q1: Less Loss, But Sales are Still Sliding
Nortek Inc. released their fiscal first quarter results this week and they were mixed at best. The company showed a sales increase to $572.7 million, up 4.5% over the $547.8 million booked in the first quarter of 2014. However, the company saw its net losses increase from $8.6 million last year to $13.9 million in the quarter this year. And when it comes to Nortek’s AV businesses, sales in the quarter declined another 9.5%, although the loss attributable to this segment did show some improvement to less of a loss.
See more on our analysis of the Nortek results… [Read more…] about Nortek’s AVC Segment in Q1: Less Loss, But Sales are Still Sliding
Autonomic Announces URC Total Control Compatibility
Autonomic Controls, Inc. announced today that it has launched a driver that integrates its popular MMS-2A and MMS-5A Mirage Music Players with the URC Total Control system. Combining one of the most popular high-resolution music player & lossless streaming systems with one of the most popular control systems is bound to be a hit with integrators, AND make their lives much easier.
See more on this announcement from Autonomic… [Read more…] about Autonomic Announces URC Total Control Compatibility
At Tidal – A Wave of Layoffs & New CEO
Tidal, the music streaming service recently purchased by rap star Jay Z and more than a dozen of his closest music superstar friends, is already feeling the impact of its new ownership. Moving quickly, Jay Z and his team has taken several steps including dismissing the existing CEO Andy Chen and what the company says is a “handful” of other executives from the service.
See more on this rapid and surprising move… [Read more…] about At Tidal – A Wave of Layoffs & New CEO
Whew! First Hurdle Cleared: Banks Say They’ll Help Sharp
If you’ve been holding your breath, waiting to see what is going to happen to troubled Japanese giant Sharp Corp., you can now relax and exhale. The first significant hurdle the company faced on their race to survival appears to be cleared. Media in Japan is now reporting that Sharp’s two banks will support it through a restructuring with a ¥200 billion convertible loan.
But these bank loans come with strings attached. Read on to see what these are… [Read more…] about Whew! First Hurdle Cleared: Banks Say They’ll Help Sharp
Showing the Power of Software – Latest TiO Update Expands Capabilities
We have been reporting on TiO and its various predecessor permutations (Colorado vNet, 3vNet, ACTP) for some time now. TiO, which stands for Turn it On, is an interesting hybrid of software and hardware enabling an incredibly flexible home automation system that strikes a balance between easy operation, system capabilities, user experience (UX) and powerful performance.
TiO is app driven and also has a proprietary system software solution . And now the company shows us the power of a strong system software foundation with an “update” that dramatically expands the systems capabilities.
See more on how this upgrade expands the TiO capabilities… [Read more…] about Showing the Power of Software – Latest TiO Update Expands Capabilities
Sonos Shoots Back; D&M Filings ‘Not Entirely Accurate’
The legal battle in the patent infringement case filed by Sonos, Inc. (Sonos) against D&M Holdings, Inc. dba The D+M Group, D&M Hodlings U.S. Inc., and Denon Electronics (USA), LLC (D&M) continues to heat up as lawyers launch new salvos against each other alleging – among other things – improper actions. In February, we reported that D&M’s legal team had filed a Motion to Disqualify the Sonos legal team, with the astonishing allegation that at one time these lawyers worked for both Sonos and D&M at the same time.
