Harman to Unveil New Speaker Dock - Analyst Blog
08 Gennaio 2013 - 11:40AM
Zacks
Harman International Industries Inc.’s (HAR)
popular speakers brand, JBL, is set to unveil its latest portable
speaker dock with a Lightning connector for the
Apple (AAPL) devices at the International Consumer
Electronics Show (“CES”), which is scheduled from January
8th to January 11th 2013.
Named as JBL OnBeat Mini, the Lightning speaker dock provides
approximately 5 hours of playback when run on batteries. The device
is compatible with latest Apple devices that include iPad mini,
iPhone 5, iPad 4 and iPod Touch.
The device can also be used to charge the aforementioned devices
by using the AC adapter. Moreover, the device can be used to power
and play other devices through built-in USB connector.
The OnBeat Mini would be JBL’s third addition to the Lightning
connector equipped speaker docks. The other two are - JBL OnBeat
Venue LT and JBL OnBeat Micro. JBL OnBeat Mini is priced at $149
and would be available from March 2013. The device is available in
black and white colors.
Harman’s launch of iOS compatible devices should act a positive
catalyst as Apple’s devices have a steady demand.
We believe that Harman’s expanding new manufacturing capacities,
growing product pipeline, solid patent portfolio, new awards as
well as launch of new products will boost top line and
profitability over the long term.
However, the company’s top line shrunk 5% year over year in the
first three months of fiscal 2013 primarily due to weak performance
across all the operating segments. Harman continues to face tough
competition from Rockford Corp., Panasonic Corp.
(PC) and Sony Corp. (SNE), which may hurt its
profitability going forward. Additionally, the sluggish
macroeconomic environment would act as headwind going forward.
Currently Harman has as Zacks #4 Rank (Sell).
APPLE INC (AAPL): Free Stock Analysis Report
HARMAN INTL IND (HAR): Free Stock Analysis Report
PANASONIC CORP (PC): Free Stock Analysis Report
SONY CORP ADR (SNE): Free Stock Analysis Report
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