Audiovox 2002 Annual Report Download - page 9
Download and view the complete annual report
Please find page 9 of the 2002 Audiovox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2 -
3 -
4 -
5 -
6 -
7 -
8 -
9 -
10 -
11 -
12
 |
 |
ELECTRONICS
“Audiovox has changed. Expansion into
new product categories is the philosophy
that has allowed us to grow very rapidly
in recent years.”
simultaneously. There is nothing like it in the market today. The
Company’s auto security line will features new Two-Way Remote
Start Alarm Systems and vehicle tracking systems designed for
both the car dealer and retail market. GMRS two-way radio prod-
ucts will focus on creative design as in our wristwatch unit and
advanced technology with extended range and more sophisticated
features like GPS capability, NOAA weather alert and tracking.
Audiovox has changed. Expansion into new product categories is
the philosophy that has allowed us to grow very rapidly in recent
years. By continuing to market high-quality products and supporting
them with good quality control and technical service, we come
closer to our goal of making every consumer a permanent Audiovox
fan regardless of demographic. In addition, we plan to continue
to explore tactical acquisitions such as the one we made by
purchasing the assets of Code Alarm Inc. this past year. That
acquisition allowed us to increase our market share in the vehicle
security and remote start industry. We view similar acquisitions
as additional strategies for future growth.
We share the concerns of all corporations that a strong economy
will take hold soon and that recent signs that consumer confi-
dence is improving will continue. No doubt there will be unfore-
seen obstacles in 2003 and we will have to adjust, but our
Company is strong and healthy and our game plan is sound. We
believe all of the marketing elements necessary for continued
success are in place. We have retailer-friendly programs and
price points, exciting products and packaging, and strong cus-
tomer service, but most significant is that Audiovox products
remain the best value for the consumer’s electronics purchase
dollars. We expect 2003 to be an exciting year.
Sincerely,
Patrick M. Lavelle
President and CEO, Audiovox Electronics Corp.
7