I’ve been following Summit Wireless Technologies (NASDAQ: WISA) for some time now. Being a movie buff, I’ve spent plenty of time and money on setting up the perfect surround sound system for my living room. Unfortunately, the process was daunting, but the end result was positive.
Nonetheless, with innovative technology offered by Summit, the pain is being taken out of setting up immersive home sound systems. This technology allows televisions to communicate with high quality speaker systems without wires or the latency that we generally experience with wireless systems.
Over the past year, the company has greatly expanded partnerships under its Wireless Speaker and Audio Association, also known as WiSA. Just one year ago, the company had around 30 members. Today, membership has grown to more than 60, 7 of which are television manufacturers and many of which happen to be some of the world’s leading brands in sound.
Unfortunately, the company’s stock price hasn’t reflected this progress. So, what’s holding it back? It’s more of a question of what was holding it back as we’re likely to see tremendous value growth ahead.
Nonetheless, the problem has been the retail launch. Sure, the company has been earning revenue from its technology, but it hasn’t quite had its opportunity to shine in the grand scheme of retail. That all changed with an announcement made by the company this morning.
Best Buy Launches WiSA Point Of Sale Display
In a press release issued early this morning, Summit Wireless Technologies announced that Best Buy has set up a WiSA point of purchase display in 296 stores across the nation. The display includes a WiSA Ready LG TV, a WiSA Ready Klipsch 3.1 connected surround system and the Axiim Linq.
Displays associated with this launch were set up between October 13, 2019 and October 26, 2019. In order to make it easier for consumers to find the next big thing in audio tech, WiSA published a store locator on its website to point potential customers and investors to the closest Best Buy location with the display. Click here to find the store closest to you!
A Turning Point For WISA
Ultimately, this news marks a turning point for Summit Wireless Technologies. At the end of the day, this is the first nationwide in-store display of WiSA in which consumers can hear the quality of sound and see just how simple the system is to set up and use.
As mentioned above, investors have been waiting on positive commercialization news to pull the trigger. With the company’s products being featured in nearly 300 Best Buy locations across the United States, commercialization is headed into full swing and revenue growth is expected ahead.
Ultimately, this is exactly what investors have been waiting for.
The Bottom Line
The bottom line here is simple. In the past, Summit Wireless Technologies was a tech product with a great product and a great plan to get it out to the masses. However, today, the company becomes one that has successfully achieved big-box retail placement, caught the attention of some of the largest brands in entertainment and is hitting the retail scene with a big splash. With such positive commercialization news, I’m expecting the WiSA brand to sweep the entertainment industry like wildfire, creating a compelling opportunity for investors.
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Disclosure – CNA Finance, parent company to Alpha Stock News, has a financial relationship with Summit Wireless.