WiSA E Continues to Expand Presence in the $296 Billion Wireless Audio Market with Innovative Licensing Deals
June 06 2024 - 4:11AM
Business Wire
WiSA E has gained momentum with recent
licensing deals and sees increased demand for its disruptive
proprietary audio technology benefitting its manufacturing partners
and end-users
WiSA Technologies, Inc. (NASDAQ: WISA), a leading innovator in
wireless audio technology for intelligent devices and
next-generation home entertainment systems, is pleased to report
seeing continued penetration into the $296 billion wireless audio
market fueled by interest in its WiSA E software.
WiSA E wireless multichannel software offers significant
advantages for both consumer electronics manufacturers and end
users. For manufacturers, WiSA E integrates multichannel wireless
audio functionality into streaming media devices without the need
for costly hardware solutions, thereby reducing production costs
and enhancing product offerings.
As software, WiSA E functionality can be unlocked at any time,
providing end users the freedom to add multichannel audio
capabilities on their timeframe and offering manufacturers an
aftermarket revenue stream based on consumer activation. WiSA
E-certified devices offer interoperability seamlessly across
different products and brands, ensuring broad compatibility and
consumer appeal. End users benefit from the ease of expanding their
audio setup, as WiSA E allows them to seamlessly add satellite
speakers at any time, creating an immersive home audio environment.
This flexibility and user-friendly approach make WiSA E a
compelling solution for bringing high-quality wireless audio to a
mass market.
“Consumers are searching the market for the type of disruptive
technology that we have created, and our manufacturers and partners
are seeing the benefits of our software,” says Brett Moyer, CEO of
WiSA Technologies. “We have gained significant momentum given the
recent deals we’ve signed and are just on the cusp of gaining
leadership in the space. We will continue to drive visibility to
our brand and educate the audio market, while focusing on our goals
of scaling, driving growth, and delivering shareholder returns.
Given the strong foundation we’ve laid out and the momentum we’ve
gained, we expect to continue locking down licensing agreements at
every turn. Our technology is already penetrating the market,
giving consumers ample options while still upholding our standards
of interoperability and high-quality audio excellence.”
According to Grand View Research, the wireless audio device
market was valued at $107.92 billion in 2023 and is expected to
grow at a CAGR of 15.5% from 2023 to 2030, surpassing $296 billion.
Interoperability and compatibility issues have been known as
factors that hinder the growth of the wireless audio device market,
which presents a massive opportunity for WiSA’s audio
solutions.
About WiSA Technologies, Inc. WiSA Technologies, Inc.
(NASDAQ: WISA) is a leading provider of immersive, wireless sound
technology for intelligent devices and next-generation home
entertainment systems. Working with leading CE brands and
manufacturers such as Harman International, a division of Samsung;
LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the
company delivers immersive wireless sound experiences for
high-definition content, including movies and video, music, sports,
gaming/esports, and more. WiSA Technologies, Inc. is a founding
member of WiSA™ (the Wireless Speaker and Audio Association) whose
mission is to define wireless audio interoperability standards as
well as work with leading consumer electronics companies,
technology providers, retailers, and ecosystem partners to
evangelize and market spatial audio technologies driven by WiSA
Technologies, Inc. The company is headquartered in Beaverton, OR
with sales teams in Taiwan, China, Japan, Korea, and
California.
About the WiSA Association WiSA® educates, evangelizes,
and promotes solutions for spatial audio in the home. Working in
collaboration with technology developed by WiSA Technologies, Inc.,
WiSA Association engages with leading consumer electronics
companies, technology providers, retailers, and ecosystem partners
to make immersive audio an experience everyone can enjoy. WiSA, LLC
- the Wireless Speaker and Audio Association - is a wholly owned
subsidiary of WiSA Technologies, Inc. For more information about
WiSA, please visit: www.wisatechnologies.com.
Safe Harbor Statement This press release contains
forward-looking statements, which are not historical facts, within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In some cases, you can identify these forward-looking
statements by the use of words such as "may," "could," "expect,"
"intend," "plan," "seek," "anticipate," "believe," "estimate,"
"predict," "potential," "continue," "likely," "will," "would" and
variations of these terms and similar expressions, or the negative
of these terms or similar expressions. Such forward-looking
statements, including statements herein regarding our business
opportunities and prospects, as well as our licensing initiatives
and expectations, are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our
management, are inherently uncertain. Readers are cautioned not to
place undue reliance on these forward-looking statements. Actual
results may differ materially from those indicated by these
forward-looking statements as a result of risks and uncertainties
regarding, among other items: the degree to which the licensee
implements the licensed technology into its products, if at all;
the timeline to any such implementation; our current liquidity
position and the need to obtain additional financing to support
ongoing operations; general market, economic and other conditions;
our ability to continue as a going concern; our ability to maintain
the listing of our common stock on Nasdaq; our ability to manage
costs and execute on our operational and budget plans; our ability
to achieve our financial goals; and other risks as more fully
described in our filings with the U.S. Securities and Exchange
Commission. The information in this press release is provided only
as of the date of this press release, and we undertake no
obligation to update any forward-looking statements contained in
this press release based on new information, future events, or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240606097711/en/
Investor: David Barnard, LHA Investor Relations,
415-433-3777, wisa@lhai.com
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