Profile: Harman International Industries Inc (HAR)
6 Dec 2013
Harman International Industries, Incorporated (Harman International), incorporated on January31, 1980, is engaged in the developing, manufacturing and marketing of audio products and electronic systems. The Company has developed a range of product offerings, which are sold under brand names like AKG, Crown, JBL, Infinity, Harman/Kardon, Lexicon, dbx, Digitec, BSS, Studer, Soundcraft, Mark Levinson, Becker, Revel, Logic 7 and Selenium. The Company has four segments: Infotainment, Lifestyle, Professional, and Other. On February 28, 2013, the Company acquired Martin Professional A/S from A/S Schouw & Co. In October 2013, the Company announced the acquisition of privately-held Duran Audio BV.
The Company’s Infotainment segment designs, manufactures and markets infotainment systems for vehicle applications to be installed primarily as original equipment by automotive manufacturers. Its infotainment systems are a combination of information and entertainment components that may include or control global positioning system (GPS) navigation, traffic information, bluetooth, voice-activated telephone, texting and climate control, multi-seat entertainment, digital media compatibility, wireless Internet access, hard disk recording and MP3 playback. Global customers for its infotainment systems include Audi/Volkswagen, BMW, Fiat, Chrysler, Toyota, Lexus, Porsche, Daimler AG, General Motors, PSA Peugeot CitroEn, Hyundai, Kia and Ssangyong. It also produces a Harman/Kardon branded infotainment system for Harley-Davidson touring motorcycles.
The Company competes with Alpine, Bosch, Panasonic, Continental, Visteon, Mitsubishi Electronics, Aisin Seiki, Delphi and Denso.
The Company’s Lifestyle segment designs, manufactures and markets automotive audio systems for vehicle applications to be installed primarily as original equipment by automotive manufacturers, and a wide range of mid- to high-end loudspeaker and electronics for home, multimedia and mobile applications. Its Lifestyle products are marketed worldwide under brand names including JBL, AKG, Harman/Kardon, Infinity, Mark Levinson, Revel, Logic 7, Lexicon and Selenium. Global customers for our premium audio systems include Toyota, Lexus, Daimler AG, Chrysler, Hyundai, Kia, BMW, Subaru, Fiat, Chrysler, General Motors and Ford. Home applications include dedicated home audio and theater systems, as well as distributed systems that provide multi-zone audio and video. The Company provides transducers and built-in speakers for notebook computers, such as Dell, Toshiba and Acer. In addition, it also provides a range of audio systems for personal computers. Aftermarket mobile products include speakers, amplifiers and digital signal processors. Its home audio products are sold in specialty audio stores, mass-market retail stores such as Apple, Best Buy, Target, Media Markt and Fnac, and through online retailers, such as Amazon.com.
The Company competes with Bose, Pioneer ASK, Foster Electric, Bang & Olufsen, Delphi and Panasonic, Rockford Fosgate, Polk Audio, MTX ,Alpine, Kenwood, Pioneer, Sony, Klipsch, , Bowers & Wilkins, Delphi and Boston Acoustics. Yamaha, Sony, Denon, Onkyo, Pioneer and Marantz, Krell, McIntosh, Audio Research, Meridian, Linn, Classe, Altec Lansing, Klipsch, iHome, Bowers & Wilkins, Phillips, Creative Labs, Altec Lansing, Logitech, Klipsch and Cyber Acoustics, Beats, Pioneer, Sony, Bowers & Wilkins, Apple, Skull Candy and Bose.
The Company’s professional segment designs, manufactures and markets a range of loudspeakers, power amplifiers, digital signal processors, microphones, headphones and mixing consoles used by audio professionals in concert halls, stadiums, airports, houses of worship and other public spaces. The Company designs products for recording, broadcast, cinema and music reproduction applications. It also provides products to the sound reinforcement, music instrument support and broadcast and recording segments of the professional audio market. Its professional products are marketed globally under brand names, including JBL Professional, AKG, Crown, Soundcraft, Lexicon, DigiTech, dbx, BSS, Studer and Selenium.
The Competes with Telex, Electro Voice, Mackie, QSC, Meyer Sound Laboratories, Sennheiser, Peavey, Shure, Audio Technica, Yamaha, Sennheiser, Loud Technologies, Inc., Lawo, Harris Corporation, DigiDesign/M-Audio, Genelec, KRK, TC Electronics, Stagetec, Sony, Peavey, QSC, Shure, Sennheiser, Line 6, Dunlop, Zoom, Audio Technica, Roland, Siemens, Peavey and Tannoy.
Harman International Industries Inc
Suite 1500, 400 Atlantic Street
STAMFORD CT 06901