Strategy in TECH...
Samsung Electronics and the largest union at the company have finally reached a preliminary agreement on a new contract that provides for a wage increase as well as other benefit enhancements, the company announced today in Korea. The deal should put an end to any further labor actions. However, it still needs to be ratified by the union membership.
Sonance, a leading manufacturer of fine custom integration audio gear, announced last week that it has appointed Glenn Kalinowski as Director of Sales and Strategic Partnerships. Kalinowski, the company says, is a “trusted industry expert” who will oversee key territories in North America, including Canada.
On Tuesday, Masimo Corporation (Nasdaq: MASI) announced the results of its financial performance for the third quarter (3Q) of Fiscal 2024 (FY2024) – the first such report under the new management. While the report comes from the new management, including interim CEO Michelle Brennan, the period of this report is for the quarter that ended September 28, 2024 – meaning the bulk of the actual performance occurred under previous CEO Joe Kiani. Still, the numbers, for the most part, looked pretty good.
Samsung Electronics, Inc. – a giant in the global consumer electronics industry – saw operating profits drop a stunning 40% in its all-important Device Solutions Division compared to the previous quarter. Device Solutions is its semiconductor division and many in the industry are watching this division closely, as it is a key part of Samsung’s business. But recently, the company – in a rare miss – failed to get on board with the rapid growth of the artificial intelligence (AI) industry early on. It is now running to catch up to competitors and this result shows they are not yet there.
In a recent filing with the Securities and Exchange Commission, the new Masimo (Nasdaq: MASI) Board of Directors reaffirmed its non-GAAP 3Q and full-year financial guidance as previously provided by the company to investors. It also notified the commission that the Board has officially terminated the employment of former CEO Joe Kiani.
Perhaps most surprisingly, it has additionally filed a major lawsuit against Joe Kiani and RTW Investments alleging, among other things, that they colluded to create a group that violated federal securities laws.
More patent decisions are being handed down as several long-running patent lawsuits between Masimo Corporation (Nasdaq: MASI) and Apple Incorporated (Nasdaq: AAPL) wrap up. Last week, a jury in the matter of Apple Inc. (Plaintiff) v. Masimo Corporation and Sound United LLC (Defendants) rendered a verdict on a case where Apple accused Masimo of infringing on six of its Apple Watch patents.
Technically, Apple got a win…but realistically, it was a huge victory for Masimo.
As I reported last week, I attended the October 15, 2024, Grand Opening of the latest Crestron Experience Center (CEC), located in the prestigious New York Design Center in Manhattan. This CEC is remarkable in its own right, but as I reflected further on the Grand Opening I realized that the event itself was noteworthy. Not only did a top Crestron executive sit down with me to offer some interesting perspectives on the new CEC and business in general, but what I observed at that event itself was impressive as well.
So I have decided to augment my previous report with additional observations…and more photos.
While Sonos (Nasdaq: SONO) claims to have most of its app problems behind it, multiple reports are emerging that suggest it may have an even bigger problem – the introduction of its Ace premium headphone has flopped. If these reports are true, then Sonos may indeed be staring into the jaws of the one monster that can truly terrify it – growing consumer resistance to its new products.
Masimo Corporation (Nasdaq: MASI) announced that it has expanded the company’s Board of Directors with two new appointees. The medical products manufacturer, which also owns the Sound United audio brands, will now have a total of eight directors on its board.
Crestron Electronics, a worldwide industry leader in both the commercial and residential smart technology space, has opened a dramatic and dynamic new Crestron Experience Center (CEC) in the heart of Manhattan at 200 Lexington Avenue in the renowned New York Design Center. A grand opening ceremony was held with the media, customers, integrators and other special guests on Tuesday, October 15th, previewing the space which offers visitors an expansive roster of “hands-on” experiences and even includes a “workshop” for true first-person experiences where visitors can – among other things – discover new possibilities they didn’t know existed.
