Strategy in TECH...
JOLED, a Japanese manufacturer of OLED-based panels and products that was formed by the merger of the OLED divisions of both Panasonic and Sony, filed for bankruptcy protection in the Tokyo District Court on Monday. According to the filing, the company reported that it has debts totaling ¥33.7 billion ($257 million).
Home Technology Specialists Nationwide (HTSN), part of the Nationwide Marketing Group’s stable of dealer/integrator buying organizations, announced today that it is rebranding its group, signifying an all-new image and an expanded mission to welcome an underserved class of dealers as part Nationwide’s “path to 1,000” members. HTSN will now be known as Oasys Residential Technology Group (ORTG).
Snap One Holdings Corp. (NASDAQ: SNPO) released their fiscal 2022 fourth quarter and full-year results after the close of the market on Tuesday and held a conference call for investment analysts shortly afterward with more details. The company produced a prodigious amount of data that they suggest shows success in the face of adversity, and forecast a decline in their performance in fiscal 2023.
They also said the industry slowed down in 2022 and will continue to be slow for the first three quarters of 2023.
Sony is looking to make a major investment to fuel even greater growth in its semiconductor business – a hot category right now around the globe. This means they need to hire engineers, dozens of engineers. But one of the consequences of so many companies chasing the semiconductor category is that competition has really been turbocharged for everything…especially engineers.
Now the company thinks it has found the perfect incentive to lock up the best engineers – something that is not nearly as prevalent in Japan as in the U.S.
On Tuesday, Masimo Corporation (Masimo) (NASDAQ: MASI) announced the results for its fiscal 2022 fourth quarter and full-year periods. Calling 2022 a “momentous year” for the company, management noted strong revenue growth – mostly from its acquisition of Sound United – as well as several adjusted figures exceeding forecast.
Russound released a statement today from CEO Charlie Porritt who summed up their experience at the recent ISE 2023 event in Barcelona. According to Porritt, the show was “one of the most productive, well-run, and enjoyable trade events to date.” It doesn’t get much better than that…
Parasound announced today that it has appointed Larry Bennett, a well-known audio industry veteran, as its Vice President of Sales and Marketing. The company says that this is the first step in new owner David Sheriff’s plan to revitalize the company.
After years of driving the economy, Big Tech has suddenly hit a rough road. By now you’ve likely heard about layoffs in tech…lots and lots of layoffs. According to Layoffs.fyi, as of this writing, more than 104,000 tech jobs have been lost in just the first six weeks of 2023. But what is behind the struggles of these Big Tech players?
AAMP Global announced today that Alex Camara, CEO of AudioControl for the last decade, will leave the company “to pursue new opportunities.” This change in Camara’s status will be effective on March 1, 2023.
Wall Street can be a fickle partner sometimes. Occasionally, a company will turn in a good performance, but its stock value will decline anyway because the performance wasn’t as good as financial analysts had expected. And sometimes, as is the case this time with Sonos’ fiscal 2023 first quarter results, you can turn in poor performance, and your stock value can take off flying – because this time, your performance was not good, but not as bad as the financial analysts had expected.
