Foxconn Technology Group, a division of Hon Hai Precision Industry Co. and a key supplier to major brands like Apple, Inc. and HP (formerly Hewlett Packard), had five former employees indicted by Taiwanese prosecutors on Wednesday in a major kickback scheme involving illicit payments from suppliers. The announcement of the scandal is sure to cause significant embarrassment for the company.
Manufacturers
Harman Takes Control; Acquires AMX
The release came across the wire at 8:00AM this morning and caught the industry totally off-guard – Harman International Industries, Inc. announced that it has signed an agreement with privately-held The Duchossois Group, Inc. to acquire its AMX, LLC subsidiary for $386 million. The move was not an immediately obvious one for Harman, which has been largely focused on building its automotive electronics division into a worldwide powerhouse.
But Harman did say it had a reason for taking this dramatic step… [Read more…] about Harman Takes Control; Acquires AMX
Thanks Boys, We’ll Take It From Here; LG Says It’s Solved OLED Production Issue
Just days after two major promoters of OLED, Samsung Electronics and Sony Corp., announced a pullback of their support due to serious production difficulties causing low panel yields and low profitability – word comes out of South Korea that LG Electronics has solved the puzzle on how to profitably produce OLED panels. And while their competitors are shifting their efforts back to 4k Ultra HD LCD TVs, LG is ready to ramp up a major commitment to OLED.
This could be good news indeed for fans of OLED technology…How did LG do it?… [Read more…] about Thanks Boys, We’ll Take It From Here; LG Says It’s Solved OLED Production Issue
Pioneer Pulls Out of AV
BREAKING NEWS
In yet another sign of dramatic changes afoot that will literally change the face of the TECH industry for years to come – news comes out of Japan that Pioneer Corp. is planning to exit the AV business by selling off its entire AV division. This news follows a similar decision made by JVC Kenwood earlier this year to pull out of consumer electronics to focus on more commercial business.
Pioneer is said to be in active negotiations with Funai Electric, a large OEM manufacturer who recently took over Philips video business, as well as other potential suitors.
Does this deal make sense? Or has the AV world gone crazy?… [Read more…] about Pioneer Pulls Out of AV
Sony Puts OLED on the Back Burner; Ramps Up Deeper 4K Commitment
Just days after a similar announcement from South Korean rival Samsung Electronics, Sony Corp. has said it will put OLED technology on the back burner – scaling back development efforts for the forseeable future. Instead, the company says it sees a greater immediate opportunity with 4K Ultra HD LCD TVs and will work to expand its assortment in this product segment.
While Sony puts OLED on the back burner, it is ramping up its 4K commitment now… [Read more…] about Sony Puts OLED on the Back Burner; Ramps Up Deeper 4K Commitment
JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
In a regulatory filing this month, JVC Kenwood Corp. said it will take dramatic and bold steps to literally change its very core – the operating structure of the company – such that it fundamentally changes the way the company is run. This changing-our-DNA move marks a deep expansion of its previously announced business-spectrum initiatives to move away from its weakening consumer electronics businesses into more commercial enterprises by ensuring that the way it manages itself is completely changed as well.
See more on this surprising move in which JVC Kenwood doubles down on “change”… [Read more…] about JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
Samsung Cuts Investment in OLED
In a move that is likely to signify a tipping point in the industry’s adoption of OLED technology, Samsung Electronics is dropping plans to build a new factory that was supposed to help it scale manufacturing of the nascent technology, driving production volumes and lowering cost. But as we’ve reported before, manufacturing OLED…well, it’s just not easy.
See more on this surprising decision by one of OLED’s most vocal supporters… [Read more…] about Samsung Cuts Investment in OLED
Nortek Q1 Sales Grow in All Major Segments, But AV Sales Continue to Decline
Nortek, Inc. released financial results for their fiscal first quarter this week. As a widely diversified provider of largely building-related products, the company noted marked improvement in several key areas over the same quarter last year. With an overall quarterly sales increase from $519.1 million last year to $550.1 million this year, sales increased 6%. But the company still lost money in the quarter – though the loss was less than last year.
Results for Norteck’s TECH segment continue a shift to security and AV continues to decline… [Read more…] about Nortek Q1 Sales Grow in All Major Segments, But AV Sales Continue to Decline
A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?
This past Saturday, CEPro published a strongly worded report based on anonymous email sources saying Automated Control Technology Partners, Inc., the parent company of Turn it On (TiO), has “fallen on some hard times” and its “office doors were locked” and “employees haven’t been paid for months.” The article also said that the company is “filing for Chapter 11” [bankruptcy] and “that a huge number of employees have been laid off.” CEO Mike Anderson was quoted as disputing many of the points in the article.
We spoke with Anderson who told us – emphatically – that CEPro got it wrong. So what is really going on at TiO?… [Read more…] about A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?
Yamaha’s Fiscal Results are Music to Management’s Ears
Yamaha Corporation announced their financial results for fiscal year 2014 (April 1, 2013 – March 31, 2014) and it is mostly good news for the company and its shareholders. However, like other Japanese companies, Yamaha benefited from an extremely favorable currency exchange rate that for some of their divisions was the only good news. Overall, however, Yamaha has much to crow about with sales up 11.8% to ¥410.3 billion ($4.0 billion) and net income up 455% to ¥22.9 billion ($223.8 million).
