Plantronics Inc   (PLT)
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    Sector  Technology    Industry Communications Equipment

Plantronics Inc

Business Description

Plantronics, Inc. is a leading global designer, manufacturer, and marketer of lightweight communications headsets, audio solutions, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand. We operate our business as one segment.

Our headsets are communications tools that provide a hands-free connection to communication or entertainment devices and freedom of movement for our users. We use a variety of technologies to develop high quality products that meet our customers needs for communications or personal entertainment. Our headsets are widely used with applications such as Unified Communications & Collaboration ("UC&C"), in contact centers, offices and homes, with mobile devices and Internet Protocol (IP) telephony, for gaming, and for other specialty applications. Our major product categories are Enterprise, which includes corded and cordless communication headsets, audio processors, and telephone systems; and Consumer, which includes Bluetooth and corded products for mobile device applications, personal computer ("PC") and gaming headsets. We also offered specialty products marketed for hearing impaired individuals under our Clarity brand, which was included in our Consumer product category until the divestiture of Clarity on July 1, 2017.

We ship our products to approximately 80 countries through a network of distributors, retailers, resellers, wireless carriers, original equipment manufacturers (“OEMs”), and telephony and other service providers. We have well-developed distribution channels in North America, Europe, and some parts of the Asia Pacific region where use of our products is widespread. Our distribution channels in other geographic regions are less mature, and while we primarily serve the Enterprise markets in those regions, we continue to expand into mobile, gaming and computer audio, and other categories in those regions and other international locations. While not always the case, revenues from our Consumer category are typically seasonal, with the third fiscal quarter typically being the strongest due to the holiday shopping season.

Plantronics was founded and incorporated in 1961 and most recently became a public company in 1994. Plantronics is incorporated in the State of Delaware and is listed on the New York Stock Exchange ("NYSE") under the ticker symbol "PLT".

Our principal executive offices are located at 345 Encinal Street, Santa Cruz, California, 95060. Our telephone number is (831) 426-5858. Our Company website is www.plantronics.com.

Plantronics operates predominantly in the electronics industry and focuses on the design, manufacture, and distribution of audio solutions for business and consumer applications. We develop enhanced communication products for offices, contact centers, mobile devices, cordless phones, computers and gaming consoles. We offer our products under one brand – Plantronics.

The proliferation of voice communications applications across people's daily lives makes communications headsets a key driver of efficiency, ergonomic comfort and safety for our users. The increased adoption of new and existing technologies, such as UC&C, Bluetooth, Voice over Internet Protocol ("VoIP"), Digital Signal Processing ("DSP"), and Digital Enhanced Cordless Telecommunications (“DECT™”), each of which is described below, has contributed to demand for our headsets and other audio solutions in new and evolving markets:

UC&C includes the categories of Unified Communications ("UC") (IP telephony, instant messaging, presence, unified messaging) as well as Team collaboration (persistent chat and team workspaces, integrated UC, application integrations) and Meetings (integrated audio, video and web conferencing). UC&C seeks to provide seamless connectivity and user experience for enterprise workers regardless of their location and environment, improve overall business efficiency and provide more effective collaboration among an increasingly distributed workforce.

Bluetooth wireless technology is a short-range communications protocol intended to replace the cables connecting portable and/or fixed devices while maintaining high levels of security. The key features of Bluetooth technology are ubiquity, low power, and low cost. The Bluetooth specification defines a uniform structure for a wide range of devices to connect and communicate with each other. Bluetooth standard has achieved global acceptance such that any Bluetooth enabled device, almost anywhere in the world, can connect to other Bluetooth enabled devices in proximity.

VoIP is a technology that allows a person to communicate using a broadband internet connection instead of a regular (or analog) telephone line. VoIP converts the voice signal into a digital signal that travels over the internet or other packet-switched networks and then converts it back at the other end so that the caller can speak to anyone with another VoIP connection or a regular (or analog) phone line.

DSP is a technology that delivers acoustic protection and optimal sound quality through noise reduction, echo cancellation, and other algorithms which improve transmission quality.

DECT is a wireless communications technology that optimizes audio quality, lowers interference with other wireless devices, and digitally encrypts communication for heightened call security.

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