Strategy in TECH...
We first told you about Monster, LLC and CEO “Head Monster” Noel Lee filing a lawsuit against Beats, LLC alleging fraudulent practices back in January, in a post that was titled in part “Risky Business.” Perhaps now Monster is getting a taste of the riskiness of taking matters to court as they have lost their first battle, on the first issue – where the case would be heard.
Savant, a leading home control & automation company, announced today that it is making an app available for the Apple smart watch – called, logically enough, the Savant App on Apple Watch. Since Savant is one of the only home automation companies to base their control systems on the Apple operating system, it only makes sense that they would be one of the first in the tech business to offer an Apple Watch app.
Last month, Toshiba Corp. warned the financial markets in Japan that they were launching an internal investigation into “possible problems” with its accounting. The stock exchange’s reaction to the announcement was swift, with the company’s stock price having its biggest one-day drop in value in more than a year. Now unnamed sources are telling the media that the company will have to restate its profits…for a three-year period.
The National Association of Home Builders has completed a comprehensive survey of home builders to learn what features home buyers are asking for in homes being built today. The survey, which the association conducts every year, showed a huge shift in priorities this year and reflects a fundamental shift in consumer preferences – a shift that will also impact the custom integration industry.
“The bigger they are, the harder they fall.” This old saying will likely resonate with many Sharp Corp. employees who are about to learn that the company is planning major job cuts – far greater than originally rumored – as it tries to turn around its struggling operations and cut its losses. The company’s management – whether voluntarily or forced by their banks – seem to be finally ready to take the drastic steps necessary to make a meaningful change at the company.
German speaker manufacturer ELAC announced today that it has returned to the North American market with a new line of speakers, a new U.S. design center and – perhaps most significantly – a new Vice President of Engineering, the highly respected Andrew Jones. The company plans to launch their new ELAC Debut™ speaker line at the upcoming T.H.E. Show Newport in Irvine, CA at the end of this month.
Osaka, Japan-based Onkyo Corporation says it has set a new global growth strategy that will focus on launching portable music players and headphones, thanks largely to resources it received in its acquisition of Pioneer’s home AV division. In an interview appearing in Japanese media, Onkyo President Munenori Otsuki said the world is entering “the age of portable music players.”
We’ve been hearing for weeks about an effort by media server marker Kaleidescape to quietly hire sales representative companies around the country. Not quiet anymore, Kaleidescape officially announced today that it has augmented its direct sales force with a group of eight independent sales representative companies.
Nortek Inc. released their fiscal first quarter results this week and they were mixed at best. The company showed a sales increase to $572.7 million, up 4.5% over the $547.8 million booked in the first quarter of 2014. However, the company saw its net losses increase from $8.6 million last year to $13.9 million in the quarter this year. And when it comes to Nortek’s AV businesses, sales in the quarter declined another 9.5%, although the loss attributable to this segment did show some improvement to less of a loss.
The Custom Electronic Design & Installation Association (CEDIA) announced on Monday that it is looking for a CEO to run the trade group. The organization has retained Korn/Ferry, one of the largest and most renowned executive search firms in the country, to conduct a comprehensive search for a new – and judging from the posted profile – heavyweight CEO.
