Audiovox 2008 Annual Report Download - page 24

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Business Overview and Strategy
Audiovox Corporation ("Audiovox", "We", "Our", "Us" or "Company") is a leading international distributor and value added service
provider in the accessory, mobile and consumer electronics industries. We conduct our business through seven wholly-owned
subsidiaries: American Radio Corp., Audiovox Electronics Corporation ("AEC"), Audiovox Consumer Electronics, Inc., Audiovox
Accessories Corp. (“AAC”), Audiovox German Holdings GmbH ("Audiovox Germany"), Audiovox Venezuela, C.A and Code
Systems, Inc. ("Code"). We market our products under the Audiovox® brand name and other brand names, such as Acoustic
Research®, Advent®, Ambico®, Car Link®, Chapman®, Code-Alarm®, Discwasher®, Energizer®, Heco®, Incaar®, Jensen®, Mac
Audio®, Magnat®, Movies2Go®, Oehlbach®, Phase Linear®, Prestige®, Pursuit®, RCA® (effective January 1, 2008), RCA
Accessories®, Recoton®, Road Gear®, Spikemaster® and Terk®, 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 and presently
have one reportable segment (the "Electronics Group"), which is organized by product category. We previously announced our
intention to acquire synergistic businesses with gross profit margins higher than our core business, leverage overhead, penetrate new
markets and to expand our core business and distribution channels.
Effective March 1, 2007, the Company reported “Accessories” as a separate product group due to the Thomson Accessory, Oehlbach
and Technuity acquisitions. In addition, the Company’s former mobile and consumer product categories are now combined and
recorded in the “Electronics” product group. As such, certain reclassifications have been made to prior year amounts as the Company
currently reports sales data for the following two product categories:
Electronics products include:
•mobile multi-media video products, including in-dash, overhead, headrest and portable mobile video systems,
•autosound products including radios, speakers, amplifiers and CD changers,
•satellite radios including plug and play models and direct connect models,
•automotive security and remote start systems,
•automotive power accessories,
•car to car portable navigation systems,
•rear observation and collision avoidance systems,
•Liquid Crystal Display (“LCD”) flat panel televisions,
•home and portable stereos,
•two-way radios,
•digital multi-media products such as personal video recorders and MP3 products,
•camcorders,
•clock-radios,
•digital voice recorders,
•home speaker systems,
•portable DVD players, and
•digital picture frames.
Accessories products include:
•High-Definition Television (“HDTV”) Antennas,
•Wireless Fidelity (“WiFi”) Antennas,
•High-Definition Multimedia Interface (“HDMI”) accessories,
•home electronic accessories such as cabling,
•other connectivity products,
•power cords,
•performance enhancing electronics,
•TV universal remotes,
•flat panel TV mounting systems,
•iPod specialized products,
•wireless headphones,
•rechargeable battery backups (UPS) for camcorders, cordless phones and portable video (DVD) batteries and accessories,
and
•power supply systems.
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Source: AUDIOVOX CORP, 10-K, May 14, 2008