From Emily Gera for Polygon: Long-running electronics company RadioShack, which filed for bankruptcy last week, will see the closure of 1,784 stores across North America by March 31, the company confirmed in court documents. RadioShack plans for the closures to come in three waves, the first of which will be completed by Feb. 17 and see the closure of 162 stores. The second will see 986 stores closed by Feb. 28, followed by a final purge of 636 stores by the end of March. Despite filing for chapter 11 bankruptcy, some stores will continue to exist. RadioShack operates 4,485 stores across the U.S. and it was reported General Wireless had plans to purchase between 1,500 and 2,400 stores. As part of an agreement with wireless service provider Sprint, 1,750 RadioShack stores will also be transformed into a combination Sprint/RadioShack retailer. According to the Delaware court filing, RadioShack representatives said the company had $1.2 billion in assets and $1.38 billion in debt.
Nortek Inc. (Nasdaq: NTK) announced today that its Linear LLC subsidiary has been renamed Nortek Security & Control, LLC. Linear, 2GIG and GoControl will be the subsidiary's cornerstone brands, each targeting key markets. Strongly positioned with product portfolio synergies and the ability to cross-pollinate technology across the broader Nortek family, Nortek Security & Control provides a broad range of smart home solutions to OEMs, telecoms, major retailers, managed service providers, security dealers, custom installers and DIY consumers. "Nortek's Linear business has been transformed during the past few years, as we have become a market leader not only in the security industry but the broader home control and automation sector, as well," said Nortek President and Chief Executive Officer Michael J. Clarke. "Linear's legacy includes 50 years as a pioneer in the wireless access control market and industry-leading capabilities in the design, engineering and manufacturing of sensors and connected devices. Our 2013 acquisition of 2GIG Technologies accentuated these strengths by bringing us more brands and capabilities, as well as complete solutions for the broader home automation space."
Parks Associates reports that approximately two-thirds of U.S. broadband households are unfamiliar with smart home products or services. Further, few consumers know what smart home devices and services are, who sells them, or where to buy them. New research, IoT for Smart Home Devices and Controllers, published by Parks Associates with the Consumer Electronics Association (CEA)®, analyzes the results of a Q2 2014 survey of 10,000 U.S. broadband households. The results include recommendations for the connected home industry, analysis of consumer demand for smart home products, and strategies to raise awareness of smart home devices and their sales channels. “Today, smart home service providers control almost every aspect of their offerings while consumers make only one choice - the service provider,” said Tricia Parks, CEO and Founder, Parks Associates. “Deploying open solutions that give consumers a degree of control over their ecosystem represents a major competitive element and an opportunity to increase revenue and business opportunities for software, hardware, and service players. However, consumers have to know where to find these devices, so these companies also need better promotion of their sales channels.”
he Consumer Electronics Association (CEA) today unveiled five cutting-edge technologies that will significantly impact the CE industry during the opening session "Five Disruptive Techs to Watch" at CEA's Innovate! Conference being held this week in Phoenix, AZ. The session, moderated by CEA Senior Vice President of Communications and Strategic Relationships Jeff Joseph, included The Envisioneering Group's Richard Doherty; Disruption Corp.'s Paul Singh; and CNET Reviews Editor-in-Chief Lindsey Turrentine. Based on CEA's annual publication, Five Technology Trends to Watch, the session introduced each of the five topics with man on the street videos of consumers filmed on the National Mall in Washington, DC to gauge their familiarity with the five technology trends. The 2015 edition highlights Big Data, the rise of the machines (Internet of Things, robotics and driverless cars), digital health and the quantified self, entertainment and immersive content including augmented reality, and business models in the innovation economy. Geared toward industry professionals, this publication provides in-depth analysis of each trend and outlines related issues and market forecasts for the coming year. Each section also explores consumer perspectives, partnerships and key players.
CEDIA EXPO 2014 showed steady growth in attendance and exhibitor participation. More than 480 exhibitors and 18,500 attendees from 82 countries participated in the 2014 event in Denver. Professional and overall attendance both grew by 3%, and the overall exhibitor footprint also saw growth with a 14% increase in the square footage of the show floor. “CEDIA EXPO continues to be a vital venue for home technology decision makers to connect and experience the latest and greatest the industry has to offer,” said Don Gilpin, CEDIA Executive Director and COO. “Not only did attendees see where the industry is going on the show floor, they also saw it in the classroom. CEDIA EXPO offered 110 training sessions, 48 of which were new, offering attendees avenues to stay up to date on the skills they need to remain competitive in the industry. From product launches and demos to networking and training events, CEDIA EXPO 2014 proved to be a fantastic success." Attendees remained consistent in their professional development with CEDIA training and this year’s certification offerings. All CEDIA Certification exam sessions sold out and 40+ training classes were sold out.
The Custom Electronic Design & Installation Association (CEDIA) recognized the outstanding work of its members at the annual Electronic Lifestyles® Awards Celebration Saturday night. The honorees included over 40 winning projects in the Designer Awards competition, 11 Manufacturers' Excellence Awards winners, the 2014 Lifetime Achievement Award recipient, and this year's top volunteers. Also at this year's Awards Celebration, CEDIA paid special recognition to the founding members of the association as part of the 25th Anniversary celebration. The Designer Awards competition, which honors the best projects completed by home technology professional members in the past year, featured winners in such categories as Best Integrated Home, Best Media Room, Best Hidden Installation, and Best Home Theater. The Designer Awards winners were determined by a panel of expert judges that included home technology professionals, architects, and interior designers. Also recognized were the three winners in the CEDIA/HGTVRemodels.com People's Pick Awards, which were voted on by visitors to HGTVRemodels.com. The Manufacturers' Excellence Awards honorees included 10 Best New Product winners, one Sustainable Lifestyle Product Innovation winner, and three inductees into the Product Hall of Fame. The winners were selected by a panel of home technology professional judges. The full list of award winners can be viewed at here . For all the News and announcements from this years show make sure to check out our SPECIAL CEDIA NEWSPAGE & Check out our Special CEDIA Tradeshow Report.
CEDIA 2014 is underway in Denver, Colorado with training sessions beginning on September 10th and the Show room floor opening up on the 11th. This years show used the slogan "Hyper-Change" to signify the ongoing evolution of the residential AV market and promises to showcase "New Products, New Innovations and New Demands." Showcasing a full spectrum of the Home Technology trends that are relevant today and tomorrow CEDIA 2014 hosted thousands of visitors browsing the booths of nearly 500 exhibitors. As well over 100 courses will be offered that cover home automation, home theater, audio video, systems integration and networking. As usual HomeToys.com is on hand to see what was what at this years show. Stay tuned for our Special CEDIA Tradeshow Report. For all the News and announcements from this years show make sure to check out our SPECIAL CEDIA NEWSPAGE.
Parks Associates today announced Internet of Things (IoT) research showing nearly 4% of U.S. households will have a smart home controller by the end of 2014, with an estimated increase to nearly 6% by 2015. The firm's Evolution of Smart Home and the Internet of Things, which includes data from a 1Q 2014 survey of 10,000 U.S. broadband households, also reports 64% of all smart devices currently in households operate as part of a security or home controls system. Smart devices include motorized door controls, lighting controls, networked security camera, and programmable thermostats, among other devices. "The smart home is an emerging market with multiple channels, from service channels to retailers such as Staples and Lowe's," said Tom Kerber, Director, Research, Home Controls & Energy, Parks Associates. "The majority of smart devices installed today were acquired as part of a security or home controls system deployed by a providers such as ADT, Comcast, or AT&T. However, consumers are starting to buy individual products such as smart programmable thermostats and smart smoke detectors in greater numbers and install them as stand-alone devices-but with the expectation that these new devices will interact with all existing and future devices in the home."
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