Strategy in TECH...
On Tuesday, New York University (NYU) and Sony Corporation announced a new partnership to establish the Sony Audio Institute, which is “…a multifaceted partnership at NYU’s Steinhardt School of Culture, Education and Human Development.” Sony has donated $7.5 million to create the institute, which is expected to launch this spring.
Atlantic Home Entertainment and Stereo, a Southern California-based integrator, will be demonstrating some of its top-performing audio/visual brands in installations appearing in multiple lounges at the upcoming T.H.E. Show SoCal taking place this year from June 7-9 at the Hilton Orange County/Costa Mesa. Now in its 28th year, T.H.E. Show draws some of the top brands in high-end specialty electronics, speakers, and headphones. Last year the event drew around 6,600 attendees.
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).
Nobuyuki Idei, former chairman and group CEO of Sony Group, has died at the age of 84. The cause of death was attributed to liver failure. His passing was announced by the company on Tuesday. Idei leaves a bit of a mixed legacy, contributing greatly during the company’s formative years but leaving during a challenging time. He is a significant part of the history of the technology industry.
So Sony has just pulled a major donut – finally coming full circle. Sony Group’s CEO stood alongside Honda Motor’s CEO as the two companies announced that they were forming a joint venture with automotive manufacturing powerhouse Honda agreeing to partner with the sensor and mobile entertainment electronics king Sony to actually manufacture electric vehicles (EVs) – or what we’ve known up to this point as the Sony Vision-S vehicles. At last, our trip down the long and winding (and confusing) road has arrived at a final destination.
And with this announcement, we now have tech’s newest power couple…
On the eve of closing out their current fiscal year (fiscal 2021) on March 30, 2022, Sony Group announced their latest financial results for the first nine months of the fiscal year…and included a surprising new upgrade of their forecast, now saying they’ll have a record operating profit for the year. This was a high note for the company, a company that has benefitted from consumers spending more time at home playing video games on their PlayStation, thanks to the COVID-19 pandemic.
But the company also answered the question that many – including me – had about Sony entering the automobile business via their new Sony Mobile division – and in so doing, reiterated their plan to move away from a hardware-centric business.
So let me start by saying there was a veritable slew of introductions at CES 2022 Media Day, which took place on Tuesday before the show opened. Most of them were incremental advancements of existing product lines. Only a couple of announcements rose above the noise to catch the attention of just about everyone who attended those presentations. One from an industry stalwart…and another from out of left field (almost literally).
In a rare show of bipartisanship, a group of U.S. Senators has sent a strongly worded letter to a leading consumer electronics industry remote control maker Universal Electronics, Inc. (UEI) launching a probe into the company’s hiring practices in China. Unique to UEI is that they own their own factories in China (most contract with existing China OEM factories) and a recent damning investigation by Reuters alleges the company is working with the Chinese government to utilize a widely persecuted Uyghur minority in a forced labor arrangement, a human rights violation. UEI has denied the accusation but so far has not provided data to back up their denial.
What a crazy couple of weeks it has been for exhibitors of CEDIA Expo 2021, and also for potential attendees who watched a slow-motion train wreck unfold right in front of their eyes. It was almost exactly two weeks ago – on August 10th – when Savant CEO Robert Madonna suddenly announced that Savant was pulling out of CEDIA, due to concerns over the surging infections from the Delta variant of COVID-19.
Little did we know then that this was the trickle before the flood…
Crestron Electronics announced this morning that it has made “the difficult decision to fully cancel our presence” at the rapidly approaching CEDIA Expo 2021, scheduled to start in just about two weeks in Indianapolis, IN. Crestron joins a long list of exhibitors who have also decided to pull out of the event, almost all due to health and safety concerns from the dramatic increase in infections and hospitalizations as a result of the rapidly spreading COVID-19 Delta variant.
