Strategy in TECH...
The Nikkei is reporting a robust revival in Japan of sales of prerecorded analog cassette tapes, a format once thought dead and gone. Now, the report says, the humble cassette tape “is experiencing a renaissance, charming a new generation of music enthusiasts with its nostalgic appearance and distinctly warm and rich sound.”
Walmart announced Tuesday that it has agreed to acquire Vizio, the high-value TV maker, for $11.50/share in an all-cash deal worth a total of $2.3 billion. Walmart announced the acquisition as part of its highly positive and optimistic presentation of the retailer’s fourth-quarter earnings. Walmart stock popped on the earnings report, more encouraged by its forward optimism of more growth rather than on the acquisition itself.
But Walmart plans to have this acquisition drive profit growth going forward.
AudioControl announced on Thursday that it has appointed two well-known and respected manufacturer sales representative firms to represent the line in two upper Midwest regions. AudioControl, like many manufacturers, has long relied on manufacturer sales reps to offer superlative sales and support functions to its dealers on a local level.
Azione Unlimited, a division of Nationwide Marketing Group, announced this week that its founder, president, and chief creative officer Richard Glikes has exited the custom integration buying group, effective February 1. Glikes has been running the show at Azione for twelve years now and the group says he will still be involved in providing “strategic guidance” on an ongoing basis as Chairman Emeritus, but has withdrawn from day-to-day operations.
GE Appliances and Savant Systems announced today that they are partnering in the launching of an innovative new home energy solution they call the EcoBalance System. The goal of this system is to offer the residential market a “whole-home, connected solution” that delivers the ability for consumers to take full control of energy delivery and utilization in their homes for unparalleled energy efficiency and management.
Portal, one of the custom integration industry’s most popular AV proposal & design software solutions used by thousands of custom integrators every day, has announced that they have struck a deal with two industry powerhouse brands – Snap One and Sonos – who will make the software available to their respective integration dealer bases. Both brands will underwrite the full monthly subscription cost for their dealers in an effort to help those integrators raise their level of professionalism, improve the efficiency of their operations, and increase their deal closing rates.
Respected digital imaging powerhouse Digital Projection International (DP) announced that it has expanded its sales team with two new regional sales managers. Both are experienced professionals who will offer sales and support to Digital Projection customers throughout their respective regions.
On Tuesday, Sonos, Inc. [Nasdaq: SONO] reported its first quarter, fiscal 2024 results for the period that ended December 30, 2023. While the actual numbers were a bit of a mixed bag with revenues down – even though the company embarked on a strong holiday promotional push – the company booked strong gross profit improvements and generated more cash beating Wall Street estimates. This resulted in a big jump in its share price on the next trading day.
Like many companies, Snap One brands are the subject of several discussion Groups on Facebook, some run by the company and others run by third parties. In the days following their recent announcement of existing program changes, new program mandates, and new optional programs, many dealers took to Control4-related groups on Facebook to protest the changes immediately, vociferously, and even (in a few cases) profanely. It was an outpouring of emotion that group admins and participating Snap One executives like G Paul Hess and others struggled to stay on top of.
Snap One executives told the dealers in the group of an upcoming webinar in which the company plans to explain everything regarding the program changes to their dealers.
Days after Snap One announced a major program initiative in an effort to change the integration industry business model, the company held a media presentation in which 5 members of the 23-member Control4 dealer advisory panel that helped the company design the program were made available to select members of the media for a short question and answer session. This was organized by Snap One specifically because I had asked to speak with the panel. How do I know that was the reason for this media opportunity? Because company executives told the media that I was the reason they chose to hold this event. This may, or may not, have endeared me to the other media.
