Audiovox 2004 Annual Report Download - page 10

Download and view the complete annual report

Please find page 10 of the 2004 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.

Page out of 144

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144

Narrative Description of Business
Industry
The mobile and consumer electronics industry is large and diverse and
encompasses a broad range of products. Among the significant manufacturers in
the industry, are Sony, RCA, Panasonic, Kenwood, Motorola, Samsung and JVC, as
well as other large companies that specialize in niche products. The Company
participates in selected niche markets such as autosound, mobile video, portable
DVD, digital multi−media, vehicle security and selected consumer electronics. As
discussed above, we may pursue strategic acquisitions to either diversify our
business model or expand our current operations within the Electronics business,
or both.
The introduction of new products and technological advancements are the
major growth drivers in the electronics industry. Currently, new products
include, but are not limited to, digital satellite radio, installed and portable
DVD mobile video systems, rear observation systems, LCD flat panel TVs,
navigation systems with real time traffic information and digital multi media
products.
Products
The Company's electronic products consist of two major categories: Mobile
Electronics and Consumer Electronics .
Mobile electronics products include:
o mobile video products, including overhead, headrest and portable
mobile video systems,
o autosound products including radios, speakers, amplifiers and CD
changers,
o satellite radios including plug and play models and direct connect
models,
o automotive security and remote start systems,
o navigation systems,
o rear observation systems, and
o automotive power accessories, including cruise control systems.
Consumer electronics include:
o LCD and flat panel televisions,
o portable DVD players,
o home and portable stereos, and
o GMRS radios digital multi−media products such as personal video
recorders, MP3 players, MPG4 products.
7