SmallCapsDaily: Summit Wireless Technologies Leads as an Innovator in the Wireless Sound Technology and Consumer Electronics Markets

New York, New York--(Newsfile Corp. - January 11, 2021) - Summit Wireless Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive wireless sound technology, was recently the focus of coverage by leading financial news website and publisher, SmallCapsDaily. Summit Wireless partners with some of the world's foremost electronic brands and original equipment manufacturers (OEMs) such as Samsung, LG Electronics, and Bang & Olufsen. SmallCapsDaily explored the details of Summit Wireless' compelling story with an in-depth feature on the company. In the article, SmallCapsDaily outlines how Summit Wireless works with their partners to deliver seamless, dynamic audio experiences to consumers across the globe, with sales teams based in most of the large consumer electronics markets such as Taiwan, China, Japan, and Korea.

Also highlighted in the SmallCapsDaily reporting, is the unique origin of the Company's ticker symbol, WISA, which was derived from the name of the consumer electronics consortium, the Wireless Speaker and Audio Association, of which Summit Wireless was a founding member. The consortium is dedicated to fostering interoperability standards utilized by leading electronics brands and manufacturers to deliver the highest quality of immersive sound through a variety of intelligent devices. The consortium, referred to as WiSA, is a certification body for the sound components manufactured under the brand name of members within the consortium, including TCL, LG Electronics, and Hisense.

The SmallCapsDaily coverage proves to be a comprehensive exploration of Summit Wireless' unique positioning and the Company's growth as a leader within the wireless sound technology space and the consumer electronics market due to many factors, including an increased demand for electronics goods resulting from the global pandemic.

Key Takeaways from the SmallCapsDaily article featuring Summit Wireless Technologies, Inc.:

  • Headquartered in San Jose, CA, Summit Wireless has close to 15 patents that have either been issued or are being processed; the patents are indicative of the precision and innovation of the Company's sound technology.
  • Summit Wireless is the main supplier associated with the core WiSA technology which is why the increasing demand for WiSA certified electronics increases Summit Wireless' sales and profit margin.
  • In its Q3 2020 reported results, Summit Wireless saw a 45% year-over-year jump in its top line, which grew to $607K and was driven by a growth of 112% in website visitors as well as the new brand additions to the consortium.

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