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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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End-of-day quote Korea Stock Exchange  -  2023-01-30
61000.00 KRW   -3.63%
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JBL Hits 200 Million Headphones Milestone

12/08/2022 | 09:12am EST

A flourishing headphone market driven by unprecedented global demand for high-quality audio cements JBL's position as category growth leader and #1 audio brand in volume

STAMFORD, Conn. - - HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co. Ltd., focused on connected technologies for automotive, consumer and enterprise markets, is delighted to announce that it has achieved a tremendous new milestone. The convergence of a thriving headphone market, global demand for high-quality audio, and JBL's exceptional ability to understand and anticipate customer needs has propelled JBL past the threshold of 200 million headphone units sold. JBL is the world's leading designer, manufacturer, and marketer of professional loudspeakers and studio monitors for musicians, tours, cinema, and recording & broadcasting applications; it leverages these credentials in the consumer headphones category, producing high-quality products that only a true audio company can deliver.

A booming market

Over the past decade, headphones have played a central role in JBL's mission to help people get the most out of every moment they spend listening. Since 2020, demand for headphones has soared, driven by major new trends arising from the pandemic, such as increased HD music streaming, an uptake of in-gaming music consumption and podcasts, home-based work and teleconferencing, and even sports and biometrics uses. This unprecedented momentum is evident not only in industry forecasts predicting market growth at a CAGR of 17.6% between now and 2028, but also in JBL's remarkable results: in addition to the milestone of 200 million headphone units sold, JBL's Headphones division surpassed Sony in volume share in Q2, making JBL the #1 audio brand in volume in the overall headphone market and #2 after Apple (telephone provider).

Quality at the heart of demand

Ever attuned to evolving customer needs, JBL was among the first to focus on immersive listening experiences and has consistently exceeded expectations with rich, innovative, and beautifully designed headphone offerings for music lovers, sports enthusiasts, gaming fans, and even young listeners getting their first taste of high-quality audio.

"We are thrilled to hit this 200 million milestone, which affirms our ability to delight listeners with the best-sounding headphones on the market. JBL's engineering teams are constantly exploring new horizons of innovation, and we are very excited about what the future of audio holds," said Dave Rogers, President of HARMAN's Lifestyle Division.

Keeping Heads Bobbing with Stunning Sound

JBL has enriched the headphone space with dynamic products since it entered the consumer headphones category in 2016. Chief among JBL's latest headphone releases is the JBL Tour PRO 2. It is JBL's most powerful and feature-rich headphone offering yet; it includes immersive JBL Spatial Sound, true adaptive noise-cancelling technology, and the customizable sound capacity of Personi-fi 2.0. In addition to offering listeners a smart, seamless experience and superior audio, JBL Tour PRO 2 includes the world's first smart charging case with a 1.45"-inch LED touch display. Without the need to so much as touch their smartphone, users can manage music, customize their earbuds, and receive calls, messages, and social media notifications in real time-all by simply tapping the touch display.

Eyes on the future

With a focus on quality, comfort, customization, innovation, and sustainability, JBL's vision for the future of headphones is bolder than ever. The latest AI technology can already provide adaptive music that reacts to the listener's heart rate and plays the music they need to hear. In the future, headphones will feature 3D rendering algorithms that can imitate reverberation in spaces like a cathedral or a gymnasium. This promises gaming headphones that are aware of the spatial environment and can perfectly mimic the reverberations inside the virtual places that an on-screen character explores, resulting in truly believable, truly immersive experiences. Accurate spatial audio will also have a huge role to play in the metaverse; Mark Zuckerberg himself has said that "getting spatial audio right is key to delivering a realistic sense of presence in the metaverse."

ABOUT JBL

For over 75 years, JBL has shaped life's most memorable moments at the intersection of music, lifestyle, gaming and sports. JBL elevates listening experiences with superior audio quality and product designs that encourage individuality and self-expression. With unmatched professional credentials and industry-leading innovation, JBL is a trailblazer in the audio industry because of passionate and talented engineers and designers around the globe. JBL Pro Sound is the foremost technology pushing culture forward through major pop culture events and partnerships with the world's top talent across music, sports and esports.

ABOUT HARMAN

HARMAN (harman.com) designs and engineers connected products and solutions for automakers, consumers, and enterprises worldwide, including connected car systems, audio and visual products, enterprise automation solutions; and services supporting the Internet of Things. With leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon®, Mark Levinson® and Revel®, HARMAN is admired by audiophiles, musicians and the entertainment venues where they perform around the world. More than 50 million automobiles on the road today are equipped with HARMAN audio and connected car systems. Our software services power billions of mobile devices and systems that are connected, integrated and secure across all platforms, from work and home to car and mobile. HARMAN has a workforce of approximately 30,000 people across the Americas, Europe, and Asia. In March 2017, HARMAN became a wholly-owned subsidiary of Samsung Electronics Co., Ltd.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2022 302 996 B 246 B 246 B
Net income 2022 35 372 B 28,7 B 28,7 B
Net cash 2022 111 346 B 90,3 B 90,3 B
P/E ratio 2022 11,4x
Yield 2022 2,38%
Capitalization 409 416 B 332 B 332 B
EV / Sales 2022 0,98x
EV / Sales 2023 1,07x
Nbr of Employees -
Free-Float 83,1%
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Last Close Price 61 000,00 KRW
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Jong-Hee Han Vice Chairman & Co-Chief Executive Officer
Kye Hyun Kyung Co-Chief Executive Officer & Executive Director
Hee-Chan Roh Chief Financial Officer
Han-Jo Kim Chairman
Jae-Yong Lee Executive Chairman
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