Strategy in TECH...
Data from the 2024 CEDIA Expo in Denver, CO this past September shows a troubling trend – attendance actually declined…and declined appreciably – from the 2023 version of the event. And this decline took place even though the promoter has combined CEDIA Expo with a new event (new last year), the Commercial Integrator Expo (CIX), which was probably an effort to boost attendance numbers.
Wow! It’s crazy that 2023 is now just about behind us, and what a dramatic and dynamic year it was! What were the key themes of the year? At the beginning of the year, I think most would say their greatest concern was the economy and their least concern was the tech industry. Yet the year turned out to be almost the exact opposite of that.
On Monday, WiSA Technologies, a developer and licensor of spatial, wireless sound technology, publicly announced the pricing of a new $4.8 million public offering of Series B convertible redeemable preferred stock and warrants. Separately, and a little less publicly, the company also filed a Form 8K with the Securities and Exchange Commission (SEC) revealing that it is “pursuing a potential strategic transaction.”
The result of both of these pieces of news is that the company’s stock value nosedived as investors turned thumbs down on this latest turn of events at the troubled organization.
The crowds on Day 2 of CEDIA Expo 23 were equally as impressive, if not more so, as they were on Day 1. I had a mid-day meeting at the Snap One booth and as you can see in the image above, I couldn’t even get into the booth! Of course, I can only give you my impressions as there is no official count as I write this, but to my eyes it sure looks like attendance is going to be a pleasant surprise when Emerald announces the final count.
Crestron Electronics Corp. (Crestron), one of the largest and most popular custom integration control brands delivering literally thousands of products to both the commercial and residential smart home channels, announced today the launch of Crestron Home OS 4. This exciting new update brings much to the party, not only a more polished and graphically appealing look and feel but also a more intuitive end-user operability. Oh, and not to mention, some exciting new functionalities.
All of which, I got to see for myself in the company’s completely renovated residential-specific showroom. This company is on the move…
Universal Electronics, Inc. (UEI), (NASDAQ: UEIC) released the results of their fiscal 2022 fourth quarter (Q4) and full year (FY) at the end of last week and their mixed performance was not well received by investors skittish over the economic outlook for 2023. Although gross margins improved slightly for the fourth quarter, for the full year gross margins declined, revenues were down, operating income declined, and the company saw its net income dramatically lowered.
UEI is one of the companies I watch as it can give a sense of the changing economic outlook for the overall consumer electronics market. And that fact makes this latest report a little troubling.
It’s a remarkable event when someone can claim a legitimate first. In all my years in this crazy Tech business, those firsts are getting fewer and further between. But Emerald Expositions, owner of the CEDIA Expo trade show can claim a legitimate first that I have never seen before from any show. They gave the cold shoulder to any media organization not named CE Pro.
Usually, shows want good media relations across the board with happy media writing positive stories and building an upbeat buzz about their event. Not Emerald…they are quite satisfied to help just one media outlet to run positive stories about their event…their very own CE Pro.
Finally, after two years without a real show – absolutely no show in 2020, and a very tiny one in 2021 – the industry comes together again for its one big show of the year – the CEDIA Expo 2022. Although not technically post-COVID, at least the situation is improving to the point where the world is beginning a return to something that approaches normal. And that brings us to now, the relaunching of live in-person events like the CEDIA Expo in Dallas, TX. But what can you expect if you head to Dallas and Expo?
More than a year after its initial introduction, and in the wake of chip manufacturers threatening to scale back their U.S. projects, the United States Senate finally took action on Tuesday to move forward on the bill known as the CHIPS Act. After months of at times heavy discussion/arguing, the stage is set for both the House of Representatives and the Senate to vote on its passage, perhaps as early as next week.
Samsung Electronics is taking action to hold back on procurement orders and asking suppliers for concessions, such as delayed deliveries, order reductions, and more in the wake of a concerning buildup of inventory. While the action is said to be temporary, concerns over a slowing global economy make it difficult to determine how long the company will deem these actions are necessary.
