Wayne, NJ-based Electronics Expo, an independent regional retail chain selling quality A/V electronics, has entered bankruptcy as of March 31st. The company, which at one time had as many as eight locations at its peak, is now down to two showrooms and one outlet center at its offices, according to a report by NorthJersey.com. Electronics Expo is owned by Leon Temiz, once a partner with family members in another regional player, Sixth Avenue Electronics.
Brands
Nortek’s TECH Segment’s Troubled Transformation
In a recent fiscal year 2012 fourth quarter and full-year report, Nortek, Inc. showed a mixture of hit-and-miss results with fourth quarter sales dropping 5.6% to $505.4 million as compared to Q4 2011’s $535.2 million. Worse yet, the company’s Q4 net loss increased from last year’s $800,000 to a substantial $12.5 million. These results were in spite of the fact that this year’s calendar for the quarter had two more days in it than the quarter last year.
However, Nortek’s overall annual results showed a brighter picture with 2012 sales increasing to $2.2 billion, up 2.8% from the previous year’s $2.14 billion. Net profits in 2012 came in at $9.5 million – a substantial improvement over 2011’s net loss of $55.9 million.
But one other thing came through loud and clear…Nortek’s TECH segment remains troubled… [Read more…] about Nortek’s TECH Segment’s Troubled Transformation
Ube Announces It Has Expanded the Capabilities of Its New Smart Dimmer
Ube – a start-up company that offers new ways to implement the processing power of smartphones interlinked with cloud-based software to bring new possibilities to consumers at affordable prices – announced today that it has expanded the capabilities of its first product, a smart dimmer. This announcement was made in conjunction with the company’s launch of their smart dimmer project on crowdfunding site Kickstarter.
See the expanded capabilities of Ube’s smart dimmer, and the progress of its project, below… [Read more…] about Ube Announces It Has Expanded the Capabilities of Its New Smart Dimmer
Monster Creates $30K ‘Crown Jewel’ Headphone for Harrods of London
Monster Products announced late today that it has created a one-of-a-kind “crown jewel” headphone based on its Diamond Tears model as redesigned by Korean artist and jewelry designer Sally Sohn for the exclusive Harrods of London department store. The new headphones feature 5.56 carats of black diamonds and plenty of 18k gold…oh, and it comes with a hefty price tag of £20,000. That’s $30,000 in good old U.S. greenbacks.
See this remarkable headphone below. Will this be Monster’s tour de force? Or a tour de farce?… [Read more…] about Monster Creates $30K ‘Crown Jewel’ Headphone for Harrods of London
Tributaries Launches Newly Revamped HDMI Cable Line-Up; Delivers Better Longer Performance
Tributaries announced today that it has revamped its HDMI cable line-up with an all-new approach that the company says will deliver better, and more reliable, long distance performance. As part of this line overhaul, the company is introducing a new IHEC long-run cable – and an active extender, the HX102.
See more on this dramatic new line-up from a leading cable supplier… [Read more…] about Tributaries Launches Newly Revamped HDMI Cable Line-Up; Delivers Better Longer Performance
Beats Gets $60 Million Investment in Daisy; And a Visit From Apple CEO
How big has Beats Electronics, LLC become? Big enough to warrant a visit by Apple, Inc. CEO Tim Cook to discuss a potential partnership in Beat’s new streaming music service tentatively code-named Daisy. And big enough to relatively easily obtain $60 million in financing from investors looking to help it get Daisy off the ground.
What’s that sound? An approaching Tyrannosaurus Rex? No, it’s Beats… [Read more…] about Beats Gets $60 Million Investment in Daisy; And a Visit From Apple CEO
Nortek Acquires 2GIG Technologies
BREAKING NEWS
Nortek, Inc. announced today that it has acquired 2GIG Technologies, Inc. from APX Group, Inc. 2GIG is a designer and supplier of residential security and home automation systems. A privately held company, 2GIG will expand Nortek’s portfolio of installed home systems products.
See what 2GIG brings to the table and how much Nortek paid to add the brand to its portfolio… [Read more…] about Nortek Acquires 2GIG Technologies
Fierce Competition by Ads Challenge the Game for Super Bowl Viewer Attention
Since this is a blog dedicated to marketing strategy, we would be remiss if we failed to comment on last week’s Super Bowl – which has become almost as important to advertisers as it is to the NFL. With advertisers spending an average of $4.0 million for a 30-second spot this year (oh yeah that’s an average, some paid more), you would expect we would see that best that marketers could muster. And, for the most part, you’d be right.
See the Top 10 Super Bowl Ads, as rated by CONSUMERS here… [Read more…] about Fierce Competition by Ads Challenge the Game for Super Bowl Viewer Attention
Wireworld Launches New Series 7 Cables at CES 2013
Specialty cable manufacturer Wireworld Cable of Fort Lauderdale, FL launched a new high-performance line of cables called Series 7 this week at CES 2013 in Las Vegas, NV. An upscale high-performance line, Series 7 boasts a couple of major new technological innovations that the company says offer a real and noticeable upgrade in performance.
See more about the Series 7 technology advancements… [Read more…] about Wireworld Launches New Series 7 Cables at CES 2013
AVWeek Features strata-GEE.com Post on Nortek Consolidation
AVWeek, a regular podcast produced by AVNation that sums up the top stories in Audio/Video for the week, featured a post by strata-GEE.com in their November 23rd podcast (published November 26) titled “Episode 67 Canadian Quarters.” The podcast – which features a 55-minute topical discussion by AV-industry luminaries Dawn Meade (Net-AV), George Tucker (World Stage), and Matt Scott (Omega Audio Video) – included a segment based on our post about the recent Nortek consolidation and creation of their new ProAV Group.
