AUDIO EQUIPMENT
DECEMBER 27, 2021
The Sound Of Bose Audio Corporation
The sound of Bose audio corporation has been around since 1964, producing high quality audio equipments for those with golden ears.
The Bose Corporation is an American audio equipment company. It was established in 1964 by Amar G. Bose, an American from Bengali Hindu father, Noni Gopal Bose and Charlotte Mechlin, her mother, from from French and German ancestry. The current headquarter is based in Framingham, Massachusetts. The initial investor of the company is Amar’s thesis advisor and professor. Y.W. Lee.
The Bose 2201 was the first product sold by the company in 1966. It had 22 speakers and designed to be located in the corner of a room. But it was a failure in the market and discontinued.
In 1968 the company introduced the Bose 901 stereo speaker system and became an immediate commercial success. The design is unconventional compared with most systems. Bose 901 model was the popular products of the Bose line-up that produced from 1968 until 2016. Bose Corporation grew rapidly during the 1970s and created many high-end audio equipment.
In 1972, The Bose Professional Division was established to produce and install public address systems. This division gained 60% of Bose’s annual revenue in 2009.
The Massachusetts Institute of Technology (MIT) is the majority owner of Bose Corporation currently. In 2011, Amar Bose donated the majority of the firm’s shares to MIT, his former employer and alma mater to advance the research and education mission of MIT. The annual cash dividend is paid out for that purpose. Amar Bose died in 2013 and Bob Maresca became the Chief Executive Officer.
Bose products are manufactured in the United States, Mexico, China and Malaysia. The Bose factories in Mexico are located in Tijuana and San Luis Río Colorado. The Bose factory in Malaysia is located in Batu Kawan and is also the main hub for the Asia-Pacific and Middle East.
Bose products are divided into four markets : Automotive, Home audio and video, Headphones and Commercial sound systems.
According to the company annual report in the 2021 financial year, Bose Corporation’s annual sales reached US$ 3.2 billion. It is less than previous year (2020) sale with revenue of US$ 3.6 billion. The company employed approximately 7,000 people in 2021.
Early 2020, Bose announced that they are closing many of its stores. The Verge reports that this was due to the popularity of online shopping and lack of consumer interest in physical stores anymore.
related post