Summit Wireless Technologies WISA Stock News

Summit Wireless Technologies Inc (NASDAQ: WISA) is flying in the premarket hours this morning, trading on gains of more than 10% early on. The gains are for good reason. The company announced that one of the largest television manufacturers in the world has joined the WiSA association. Here’s what’s going on:

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WISA Stock Climbs On New Association Member

In the press release, Summit Wireless Technologies said that SKYWORTH Grop has become the newest member of the Wireless Speaker and Audio Association, or WiSA. The Association includes more than 60 leading consumer electronic brands.

Importantly, SKYWORTH is one of the leading manufacturers in the television industry. In fact, it is the single largest producer of television products in China, marketing its televisions under the brands, SKYWORTH, Metz, and Coocaa.

The company’s offering includes a wide range of televisions, including 4K Smart TVs and OLED Smart TVs. The company also offers other display devices, set-top boxes, security monitors and works heavily in network communications, semi-conductors, refrigerators, washing machines, cell phones and LED lighting.

In a statement, Tony Ostrom, President of WiSA, had the following to offer:

The WiSA Association looks forward to working with SKYWORTH. They are a rapidly growing leader in the consumer electronics industry focused on delivering to consumers affordable technology that brings enjoyment to their lives.

The above statement was followed up by Tony Wang, President and CEO at SKYWORTH TV. Here’s what he had to say:

At SKYWORTH, our team seeks leading technologies that are simple to use for the consumer and delivers that WOW factor experience for their entertainment. We are incredibly proud to be welcomed into the WiSA fold and join the ranks of the world leaders in high resolution audio.

This Is Big News

Since I started following Summit Wireless Technologies quite a while ago, I’ve been saying the same thing. It’s about time that someone did something to revelutionize in-home audio. That’s exactly what WiSA is doing.

Ultimately, the visual part of home entertainment has changed quite a bit over the past several years. Casset tapes became CDs, then BluRay, and now, streaming, all of which was based on higher quality and more convenience for the end user.

That’s what WiSA is doing in home audio. It is offering high quality, plug and play wireless surround sound. No more headaches in installation, no more latency, no more audio issues. That’s what Wisa is about.

This particular news suggests that the global market is accepting this tech in a big way. With several big brands, including LG and now SKYWORTH getting on board, WiSA enabled devices will likely be the devices of the future, making WISA stock one to watch.

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