VOXX International Corporation is a leading international manufacturer and
distributor in the Automotive, Premium Audio and Consumer Accessories industries.
The Company has widely diversified interests, with more than 30 global brands
that it has acquired and grown throughout the years, achieving a powerful international
corporate image and creating a vehicle for each of these respective brands to
emerge with its own identity. We conduct our business through eighteen wholly-owned
subsidiaries: Audiovox Atlanta Corp., VOXX Electronics Corporation, VOXX Accessories
Corp., Audiovox Consumer Electronics, Inc. ("ACE"), Audiovox German
Holdings GmbH ("Voxx Germany"), Audiovox Venezuela, C.A., Audiovox
Canada Limited, Voxx Hong Kong Ltd., Audiovox International Corp., Audiovox
Mexico, S. de R.L. de C.V. ("Voxx Mexico"), Code Systems, Inc., Oehlbach
Kabel GmbH ("Oehlbach"), Schwaiger GmbH ("Schwaiger"), Invision
Automotive Systems, Inc. ("Invision"), Klipsch Holding LLC ("Klipsch"),
Car Communication Holding GmbH ("Hirschmann"), Omega Research and
Development, LLC ("Omega") and Audiovox Websales LLC, as well as a
majority owned subsidiary, EyeLock LLC ("EyeLock"). We market our
products under the Audiovox® brand name and other brand names and licensed
brands, such as 808®, AR for Her, Acoustic Research®, Advent®, Ambico®,
Car Link®, Chapman®, Code-Alarm®, Discwasher®, Energy®,
Heco®, Hirschmann Car Communication®, Incaar™, Invision®,
Jamo®, Jensen®, Klipsch®, Mac Audio™, Magnat®, Mirage®,
myris®, Oehlbach®, Omega®, Phase Linear®, Prestige®, Pursuit®,
RCA®, RCA Accessories, Schwaiger®, Recoton®, Terk® and VoxxHirschmann
as well as private labels through a large domestic and international distribution
network. We also function as an OEM ("Original Equipment Manufacturer")
supplier to several customers, as well as market a number of products under
exclusive distribution agreements, such as SiriusXM satellite radio products;
Singtrix®, the next generation in karaoke and 360 Fly® Action Cameras.
VOXX International Corporation was incorporated in Delaware on April 10, 1987
under its former name, Audiovox Corp., as successor to a business founded in
1960 by John J. Shalam, our Chairman and controlling stockholder. Our extensive
distribution network and long-standing industry relationships have allowed us
to benefit from growing market opportunities and emerging niches in the electronics
business.
The Company operates in three segments based upon the Companys products and
internal organizational structure. The operating segments consist of the Automotive,
Premium Audio and Consumer Accessories segments. The Automotive segment designs,
manufactures, distributes and markets rear-seat entertainment devices, satellite
radio products, automotive security, remote start systems, digital TV tuners,
mobile antennas, mobile multimedia devices, aftermarket/OE-styled radios, car-link
smartphone telematics applications, collision avoidance systems and location-based
services. The Premium Audio segment designs, manufactures, distributes and markets
home theater systems, high-end loudspeakers, outdoor speakers, iPod/computer
speakers, business music systems, cinema speakers, flat panel speakers, Bluetooth
speakers, soundbars, headphones and DLNA (Digital Living Network Alliance) compatible
devices. The Consumer Accessories segment designs, manufactures, markets and
distributes remote controls; wireless and Bluetooth speakers; Singtrix karaoke
products; 360 Fly® Action Cameras; EyeLock iris identification and security
related products; personal sound amplifiers; and A/V connectivity, portable/home
charging, reception and digital consumer products.
Our objective is to grow our business both organically and through strategic
acquisitions. We will drive the business organically by continued product development
in new and emerging technologies that should increase gross margins, and improve
operating income. We are focused on expanding sales both domestically and internationally
and broadening our customer and partner base as we bring these new products
to our target markets. In addition, we plan to continue to acquire synergistic
companies that would allow us to leverage our overhead, penetrate new markets
and expand existing product categories. Notwithstanding the above, if the appropriate
opportunity arises, the Company will explore the potential divestiture of a
product line or business.
We participate in selected product categories in the automotive, premium audio
and consumer accessories markets within the electronics industry. These markets
are large and diverse, encompass a broad range of products and offer the ability
to specialize in niche product groups. The introduction of new products and
technological advancements are the major growth drivers in these markets. Based
on this, we continue to introduce new products across all segments, with an
increased focus on niche product offerings.
Our product development cycle includes:
identifying consumer trends and potential demand,
responding to those trends through product design and feature integration, which
includes software design, electrical engineering, industrial design and pre-production
testing. In the case of OEM customers, the product development cycle may also
include product validation to customer quality standards, and
evaluating and testing new products in our own facilities to ensure compliance
with our design specifications and standards.
Utilizing our company-owned and third party facilities in the United States,
Europe and Asia, we work closely with customers and suppliers throughout the
product design, testing and development process in an effort to meet the expectations
of consumer demand for technologically-advanced and high quality products. Our
Troy, Michigan; Orlando, Florida; Neckartenzlingen, Germany; Nürnberg,
Germany; Fulda, Germany; Shanghai, China and Békéscsaba, Hungary
facilities are ISO/TS 16949:2009, ISO 14001:2004 and/or ISO 9001:2008 certified,
which requires the monitoring of quality standards in all facets of business.
We are committed to providing product warranties for all of our product lines,
which generally range from 90 days to seven years. The Company also provides
warranties for certain vehicle security products for the life of the vehicle
for the original owner. To support our warranties, we have independent warranty
centers in the United States and Europe. Our customer service group, along with
our Company websites, provides product information, answers questions and serves
as a technical hotline for installation help for end-users and customers.
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