Consumer Electronics – JVC Europe http://jvc-europe.com/ Mon, 21 Nov 2022 09:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://jvc-europe.com/wp-content/uploads/2021/05/jvc-europe-icon-150x150.png Consumer Electronics – JVC Europe http://jvc-europe.com/ 32 32 This week: Dell wins, Best Buy wins, new home sales https://jvc-europe.com/this-week-dell-wins-best-buy-wins-new-home-sales/ Mon, 21 Nov 2022 09:00:00 +0000 https://jvc-europe.com/this-week-dell-wins-best-buy-wins-new-home-sales/

Comment

A look at some of the major trade events and economic indicators to come this week:

Dell Technologies releases its latest quarterly snapshot on Monday.

Wall Street predicts that the IT and technology services company’s fiscal third quarter earnings fell from the same period last year. This would echo the company’s results in its previous two quarters. Investors will be tuning in for an update on how Dell’s personal computer sales trends are doing as the holiday shopping season approaches.

ANOTHER DOWNBEAT NEIGHBORHOOD?

Best Buy has struggled this year amid weakening consumer demand and rising costs due to supply chain disruptions.

The country’s consumer electronics chain reported lower quarterly profits and revenue in the first half of its current fiscal year, which began in February, as consumers restrained electronics spending amid steep prices. higher for basic necessities such as food and gas. Wall Street expects economic trends to continue to weigh on Best Buy in the third quarter. The company releases its quarterly results on Tuesday.

The Commerce Department released its October tally of new home sales in the United States on Wednesday.

Economists forecast sales slowed last month to a seasonally adjusted annual rate of 572,500 homes. Sales rose at an annual rate of 603,000 units in September. The housing market cooled after a strong start to the year as significantly higher mortgage rates made home ownership less affordable for many potential buyers.

Sales of new homes, seasonally adjusted annual rate, by month:

]]> Konka Strengthens Presence in GCC Consumer Electronics Sector https://jvc-europe.com/konka-strengthens-presence-in-gcc-consumer-electronics-sector/ Fri, 18 Nov 2022 06:42:06 +0000 https://jvc-europe.com/konka-strengthens-presence-in-gcc-consumer-electronics-sector/

According to Hursh Agrawal, CEO of Konka, GCC, the company’s goal in the region is to forge strong and lasting partnerships. To ensure that the end consumer really gets what they pay for, Konka will continue to maintain high quality standards and minimal operating costs in the GCC. Konka is a company that sells a range of electronics and appliances, and it depends on happy customers to build its brand. Customers naturally choose Konka because it offers a wide variety of high-quality TVs with the operating systems, WebOS, official Android and Netflix OS. Saudi Arabia, Kuwait, Bahrain and the United Arab Emirates are already GCC countries where Konka branded products are sold. A launch in Oman and Qatar will follow shortly.

Agrawal further states that in the GCC, Konka brand refrigerators, freezers and washing machines have also been introduced and the company is currently aiming to increase the variety of models provided.

In the modern television industry, content reigns supreme. While broadcast usage is decreasing, over-the-top (OTT) usage is increasing. Customers want to experience content from Netflix, Amazon Prime, Starzplay, Shahid TV, and Youtube, among others. Each region has international and local requirements and GCC is no different. Konka, with its global presence and local focus, ensures that customers have access to what they want, when they want it through its variety of operating systems and application stores.

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Alibaba and JD.com are keeping Double 11 earnings secret. The Chinese consumer is clearly changing. https://jvc-europe.com/alibaba-and-jd-com-are-keeping-double-11-earnings-secret-the-chinese-consumer-is-clearly-changing/ Mon, 14 Nov 2022 18:44:27 +0000 https://jvc-europe.com/alibaba-and-jd-com-are-keeping-double-11-earnings-secret-the-chinese-consumer-is-clearly-changing/

Like the 14 Dual 11 has come to an end, the depression of consumer morale in China and the huge change in consumption habits have made this year’s shopping festival not reach the feverish growth of previous years.

In an unprecedented move, neither Tmall nor JD.com announced their GMV (Gross Merchandise Volume) results for this year’s Double 11, also known as Singles’ Day. Tmall reported that the sales volume was the same as last year which reached $74.56 billion (540.3 billion RMB), while JD.com reported that its performance exceeded the industry growth rate and hit a record high after last year. $48.17 billion (RMB 349.1 billion) GMV – although specific figures were not given. Additionally, the live gala ceremonies usually hosted by Alibaba, JD.com and Pinduoduo did not take place, possibly to avoid large gatherings and COVID-19 transmission.

A more diversified market

However, the shopping fever has not completely subsided. Tmall revealed that in the first hour of the festival on October 31, the turnover of 102 brands exceeded 13.8 million dollars (100 million RMB). Although it only launched its commerce feature in 2020, Douyin’s GMV increased by 629.9% per year-over a year on the first day of this year’s Double 11 event. It’s clear that newcomers are catching up fast in their transition from content sharing to e-commerce. Since each platform comes with its own bankable influencers, the likes of Douyin’s most popular content creator, Crazy Little Brother Yang, who has over 100 million subscribers, are likely to be key to the sales growth.

Although the two major Chinese tech giants remain silent on their GMVs, according to Syntun, an independent big data monitoring company, the total GMV of all major e-commerce platforms has exceeded 1 trillion RMB for the first time. . Traditional e-commerce platforms brought in around RMB 934 billion, while new e-commerce platforms like Douyin brought in around RMB 181 billion, according to their report. Then there were additional contributions from new retail platforms and community group buying online retailers.

Although it only launched its trading feature in 2020, Douyin’s GMV rose 629.9% YoY on the first day of Double 11. Photo: Weibo

Household products, outdoor sports, pet supplies, wellness, toys are new winning categories

Although overall sales figures have not been released, new consumer trends can still be identified. Tmall reported that outdoor sports, pet supplies, toys and collectible jewelry are the new four-pillar industries (traditionally, the four energy-pillar industries were beauty, consumer packaged goods, consumer electronics, and apparel). In these four categories, sales of 358 brands exceeded RMB 100 million.

JD.com also pointed out eight new consumer trends, including more spending on products that deliver long-term returns, particularly in the health, wellness and education categories, as well as environmentally friendly labels. Other big trends on JD.com include a focus on new arrivals and items that bring comfort (think rocking chairs and scented candles).

China-chic products inspired by traditional culture have also led the way at JD.com. Indeed, domestic products continue to be consumers’ first choice. According to Douyin’s Double 11 report in 2022, national assets accounted for more than 90 percent of the top 100 best-selling products.

JD.com reported that products that offer long-term returns, such as those related to health and wellness, jumped from this Double 11. Photo: Weibo

What happened in luxury?

In terms of luxury consumption, more than 200 luxury brands joined Tmall this year, spanning handbag, fashion, jewelry, beauty and liquor categories. However, instead of offering discounts, many of them used the festival to launch new products. Tmall launched more than 100,000 new luxury products this Double 11, including the Kate handbag from Saint Laurent and the Reverso Tribute Duoface Calendar watch from Jaeger-LeCoultre.

During this time, JD.com used new technologies such as VR, AI and Digital Collectibles in Omnichannel Scenarios to Boost Luxury Shopping Double 11. During the first 10 minutes of the peak shopping period (from 8 p.m. on November 10 to 12 a.m. on November 11), the best performing luxury houses such as Bulgari, Celine, Fendi and Loewe saw their turnover increase about 18 times compared to last year. . Others like Burberry, Ferragamo, Prada, Lanvin and Qeelin would have increased more 227 percent for the same period – showing promising peak hour sales. Sales of luxury handbags and shoes rose 180% year over year on JD.com, another general boost for luxury.

New luxury versions of this Double 11 included YSL’s Kate Reversible Small Chain Bag and Jaeger-LeCoultre Reverso Tribute Duoface Calendar watch. Photo: Weibo

Quality and loyalty rather than quantity?

As markets mature amid economic uncertainty, the exponential phase of China’s e-commerce market growth has come to an end. The focus is now on how to optimize the consumer experience. Tmall, for example, increased the maximum number of products that can be saved in shopping carts from 120 to 300 this year.

To build customer loyalty, develop membership has become a priority for traders and platforms. In 2017, Alibaba launched its “88 Member” loyalty program to boost customer engagement and improve personalized service. However, the initiative proved to be a success. In June, Alibaba said the 25 million users registered with its loyalty program had spent an average of $4,865 (57,000 RMB) per person over the past year.

Brands are also building their own membership programs, with existing VIP members accounting for a large portion of sales. At this year’s Double 11, over 2,700 businesses on Tmall saw half of their total sales made by their own members. In addition, more than 4,000 brands saw their member sales increase by 100% compared to the previous year.

These results paint a complex picture. Purchasing priorities and categories have clearly shifted as consumer motives evolve to be more quality-focused. As Dai ShanEmphasized the president of Alibaba’s Core Domestic E-commerce, the future of Double 11 is no longer a machine producing ever-higher GMVs, but an important platform for better customer experience and growth of the company.

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Chinese brands outnumber foreign brands among Singles’ Day bestsellers https://jvc-europe.com/chinese-brands-outnumber-foreign-brands-among-singles-day-bestsellers/ Sat, 12 Nov 2022 05:27:00 +0000 https://jvc-europe.com/chinese-brands-outnumber-foreign-brands-among-singles-day-bestsellers/

BEIJING, Nov 12 (Reuters) – Chinese consumers tightened their wallets on this year’s Singles Day and continued to seek relatively budget house brands rather than more expensive labels as tight COVID-19 restrictions and economic uncertainty weighed on the shopping extravagance.

From the evening of Oct. 31 to Thursday, more than 2,000 items generated sales exceeding 10 million yuan ($1.4 million) each in the Tmall marketplace, more than half of which are Chinese brands, data shows. of the platform belonging to the e-commerce conglomerate Alibaba. Group Holding Ltd (9988.HK).

Alibaba said Singles Day sales were in line with last year, when gross merchandise value rose 8.5%, the lowest since the company launched the trade event in 2009. the first time Alibaba did not announce sales data this year.

The shopping fest, which has grown from a one-day online event into a long party, is seen as a barometer of consumer sentiment in the world’s second-largest economy.

This year’s bestsellers included Chinese appliance makers such as Haier, Midea and sportswear brand Anta, as well as international names such as Apple, L’Oreal and Nike.

Appliances overtook other categories, while apparel remained the biggest drag, according to data from research firm YipitData on the run-up to the event when shoppers can put down deposits on items.

COVID CURBS SPUR HOME ENTERTAINMENT, CAMPING

Despite the rise of new domestic brands in recent years, foreign brands still enjoy huge reputational advantages in industries where product quality or safety are paramount considerations, said Jacob Cooke, CEO from e-commerce consultancy WPIC Marketing + Technologies.

Alibaba’s rival JD.com said within 28 hours from 8 p.m. on Oct. 31, Chinese brands accounted for 80% of the sales of the top 20 brands.

Cooke said this does not reflect national dominance of the overall market, as JD.com is particularly strong in high-value consumer electronics like computers and smartphones, where Chinese manufacturers have long dominated the market. local.

Repeated COVID lockdowns in cities across China have pushed consumers to spend on improving the quality of life at home.

Chinese consumers are increasingly willing to pay for devices with specific functions, JD.com said. Sales of TVs with gaming features jumped more than 180% in the 28-hour Singles’ Day period reported by JD.com a year earlier, while high-end floor washers jumped by 400%.

Sales of TCL televisions, Dyson hair dryers and Midea refrigerators doubled, JD.com said.

People wanted to be entertained, too: RTX gaming PC sales increased 75%, Microsoft Xbox more than tripled, and XR glasses soared 530% on JD.com.

Camping-related sales were strong as the outdoor trend continued, with portable power station sales increasing 10-fold on JD.com.

($1 = 7.1066 Chinese yuan renminbi)

Reporting by Sophie Yu, Brenda Goh; Editing by William Mallard

Our standards: The Thomson Reuters Trust Principles.

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Ascend Takes Majority Stake in Circular Polymers https://jvc-europe.com/ascend-takes-majority-stake-in-circular-polymers/ Tue, 08 Nov 2022 23:59:07 +0000 https://jvc-europe.com/ascend-takes-majority-stake-in-circular-polymers/

Ascend Performance Materials announced today that it has acquired a majority stake in Circular Polymers, a recycler of high performance post-consumer polymers including polyamides 6 and 66, polypropylene and polyester (PET) based in Lincoln, California. Ascend said the deal provides it with a steady supply of high-quality PCR materials for its ReDefyne sustainable polyamides, launched at K 2022 in Düsseldorf, Germany last month.

Circular Polymers recovers and processes post-consumer carpet using rotary impact separator technology developed by the Broadview Group. It holds the exclusive North American rights to the technology and claims to have diverted approximately 85 million pounds of waste from landfills into new products since 2018. As part of the deal, the company was renamed Circular Polymers by Ascend.

“We strive to help our customers achieve their sustainability goals, and Circular Polymers by Ascend provides materials that deliver strong performance with a significantly reduced environmental footprint, compared to other technologies like pyrolysis,” said said Phil McDivitt, President and CEO of Ascend. “Since we launched ReDefyne, demand for our circular products has been strong across all segments of our business, including automotive, consumer, electronics, and performance fibers and textiles.”

Ascend is committed to reducing its greenhouse gas emissions by 80% by 2030.

David Bender, founder and CEO of Circular Polymers, will hold the remaining equity and remain CEO of the company, Ascend announced.

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Universal Electronics Third Quarter 2022 Results: EPS Exceeds Expectations https://jvc-europe.com/universal-electronics-third-quarter-2022-results-eps-exceeds-expectations/ Sun, 06 Nov 2022 13:14:25 +0000 https://jvc-europe.com/universal-electronics-third-quarter-2022-results-eps-exceeds-expectations/

Universal Electronics (NASDAQ:UEIC) Third Quarter 2022 Results

Main financial results

  • Revenue: USD 148.5m (down 4.6% compared to Q3 2021).
  • Net profit: $7.23 million (compared to a loss of $955,000 in Q3 2021).
  • Profit margin: 4.9% (up from Q3 2021 net loss).
  • EPS: $0.57 (vs. a loss of $0.071 in Q3 2021).
NasdaqGS: UEIC Earnings and Revenue Growth November 6, 2022

All figures shown in the table above are for the 12 month period (TTM)

Universal Electronics EPS Exceeds Expectations

Revenue is in line with analysts’ estimates. Earnings per share (EPS) exceeded analysts’ estimates by 11%.

Going forward, revenues are expected to remain flat over the next 2 years, in line with US consumer durables industry revenue forecasts.

Performance of the American durable consumer goods industry.

Shares of the company are up 9.2% from a week ago.

Risk analysis

You should always take note of the risks, for example – Universal Electronics has 2 warning signs we think you should know.

Valuation is complex, but we help make it simple.

Find out if Universal electronics is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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Vuzix Leases New Manufacturing Space to Support Expansion of Waveguide Production Capacity https://jvc-europe.com/vuzix-leases-new-manufacturing-space-to-support-expansion-of-waveguide-production-capacity/ Thu, 03 Nov 2022 14:00:00 +0000 https://jvc-europe.com/vuzix-leases-new-manufacturing-space-to-support-expansion-of-waveguide-production-capacity/

Vuzix is ​​eligible up to $1 million from Empire State Development to support regional job creation through the Excelsior Employment Tax Credit Program

HENRIETTA WEST, NY, November 3, 2022 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or the “Company”), a leading provider of smart eyewear and augmented reality (AR) technologies and products, is pleased to announce that the company has signed a new lease for space in a building adjacent to its West Henrietta headquarters for the express purpose of increasing its waveguide production capacity.

The lease is for partial occupancy of the building with an option to lease the entire building as needed for future phase expansion. Waveguide production equipment has already been purchased and will be installed and prepared for volume production over the next six months at this new ISO 9001 facility. The expanded facility will include a Class 1000 clean room in addition to house the optics and manufacturing equipment needed to support the development process of Vuzix’s proprietary waveguide. This action is expected to increase the Company’s annual production capacity to more than one million units in the first half of 2023.

In connection with this expansion, Vuzix is ​​eligible up to $1 million through Empire State Development’s (ESD) Excelsior Jobs Tax Credit program in exchange for job creation commitments. ESD is the New York one the state’s main economic development agency and has approved this level of support for Vuzix subject to its program rules.

“The optical, weight and power advantages offered by Vuzix waveguides are well appreciated by our partners in the enterprise, defense, consumer and other markets. With the growing demand for custom configured waveguides that are emerging for us, this is an opportune time for Vuzix to ramp up our waveguide production capability,” said Paul Travers, President and CEO of Vuzix. “All Vuzix OEM solutions are designed and manufactured in-house here New York Stateprotected by an extensive IP portfolio and supported by facilities equipped to deliver at scale and at a competitive price to key customers.”

About Vuzix Corporation

Vuzix is ​​a leading provider of smart eyewear and augmented reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal displays and portable computing devices that provide users with a high-quality portable viewing experience, provide solutions for mobility, portable displays and augmented reality. Moviynt®, an SAP-certified SaaS ERP logistics solutions provider, is a 100% subsidiary of Vuzix. Vuzix holds 259 patents and patents pending and numerous IP licenses in the field of video eyewear. The company has won innovation awards at the Consumer Electronics Show (or CES) for the years 2005 to 2022 and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is ​​a public company (NASDAQ: VUZI) with offices in West Henrietta, NY, Oxford, United Kingdomand Tokyo, Japan. For more information, visit the Vuzix website, Twitter and Facebook pages.

Disclaimer of Forward-Looking Statements

Certain statements contained in this press release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. The forward-looking statements contained in this release relate to the capabilities and capabilities of its new expanded waveguide manufacturing, and the company’s leadership in the smart glasses and AR display industry. They are usually identified by words such as “believes”, “may”, “expects”, “anticipates”, “should” and similar expressions. Readers should not place undue reliance on these forward-looking statements, which are based on the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other matters described in more detail in the “Risk Factors” section of the Company’s annual reports and MD&A filed with the Securities and Exchange. United States Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com Where www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changes in events or circumstances after the date of this release, except as required by applicable law.

Vuzix Media Contact and Investor Relations:

Ed McGregorDirector of Investor Relations,
Vuzix Company
[email protected]
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 United States,
Investor information – [email protected] www.vuzix.com

SOURCEVuzix Corporation

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Ram delays reveal of ‘revolution’ 1500 electric truck at CES in January https://jvc-europe.com/ram-delays-reveal-of-revolution-1500-electric-truck-at-ces-in-january/ Mon, 31 Oct 2022 23:50:45 +0000 https://jvc-europe.com/ram-delays-reveal-of-revolution-1500-electric-truck-at-ces-in-january/

The Ram Revolution is less imminent than expected.

The reveal of the all-electric Ram 1500 concept pickup truck has been delayed until Jan. 5 at the CES consumer electronics show that runs through Jan. 8 in Las Vegas. The Stellantis NV brand was originally slated to debut the truck this month in Los Angeles, but Ram CEO Mike Koval Jr. said it made sense to move the debut to CES given what it means for the company. management of the truck manufacturer. Additionally, the show gave the company a prominent place at the event.

“I think, especially as the industry goes through this super exciting transformation, that credibility is really important, and I know that the company and I have very specifically committed publicly to revealing the Ram 1500 concept truck at the Los Angeles Auto Show or around the Los Angeles Auto Show,” Koval told the Detroit News.

“This concept vehicle is absolutely packed with cutting-edge advanced technology features the world has never seen. talked about and potential for more, we felt it made perfect sense to reveal the vehicle at CES 2023.”