Harman International Industries Inc.
) popular speakers brand, JBL, is set to unveil its latest
portable speaker dock with a Lightning connector for the
) devices at the International Consumer Electronics Show ("CES"),
which is scheduled from January 8
to January 11
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
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.,
), which may hurt its profitability going forward. Additionally,
the sluggish macroeconomic environment would act as headwind
Currently Harman has as Zacks #4 Rank (Sell).
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