Summit Wireless Technologies, Inc. (WISA) stock prices were down a marginal 1.87% as of market close on April 30th, 2021, bringing the price per share down to USD$2.63 at the end of the trading day.
WiSA Wave Marketing Program
April 14th 2021 saw the company announce the substantial and sustained traffic generation and category exposure as a result of the WiSA Wave marketing program. Having been launched on September 1st 2020, provides access to the company’s analytics and growing consumer database for members of the Association. At its current trajectory, WiSA anticipates website traffic to hit the one million visitor mark before the end of the fiscal year 2021.
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Success of WiSA Wave
A clear indicator of success is the 234% increase in visitors driven to websites for the company or its brands and retailers. Q1 2021 reported almost 140,000 visitors up from 34,000 in the same quarter of the previous year. The first quarter of 2021 also saw almost 18% of visitors to the website continuing to browse a member or retailer website, either to explore information about a WiSA Certified product or to buy one.
Consolidation of Market Footprint
In cohesion with the increased traffic of newer, in-market consumers reached via the WiSA Wave, organic direct and referral traffic was also promising. Ranging from 18-21%, these reports consolidate WiSA’s market presence in the sector. As an example of the attractiveness of their increasing portfolio, WISA announced on April 7th 2021 the launch of the first ever WiSA Certified Pro Series in-ceiling speaker by Lithe Audio, an Association member.
Collaboration with LG
April 5th saw WISA collaborate with LG products in the granting of WiSA Ready certification for the entertainment giant’s LG 2021 OLED and NanoCell TV models. The increasing number of WiSA Ready TV models in the LG arsenal are all equipped to easily connect to WiSA USB Transmitters, facilitating seamless audio and control communication with any WiSA Certified speaker.
Further Expansion of Product Portfolio
The company announced near the end of March 2021 the showcasing of the WiSASoundSend and 5.1 WiSA Certified speaker system. Centered around Association member Foxconn’s 120-inch 8K TV, the WiSA technology was presented at the Appliance and Electronics World Expo in Shanghai, China. The TV has the capabilities to connect and communicate with the WiSASoundSend perfectly, with mobile applications for both iOS and Android allowing for the simplification of advanced tuning.
Future Outlook for WISA
As one of the few sectors that benefitted from the otherwise devastating economic effects incurred from the onset of the pandemic, WISA is excited for another year of strong growth. In preparation for the post-pandemic context of relaxed regulations and a less home-bound demographic, the company has developed cutting-edge additions to its product portfolio. Current and potential investors are hopeful for a continued trajectory of success and a year that ushers in significant and sustained increases in shareholder value.