Artificial Intelligence
Cemtrex Reports Third Quarter 2021 Financial Results
Brooklyn, NY, Aug. 16, 2021 (GLOBE NEWSWIRE) — – Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has reported its financial and operational results for the third quarter ended June 30, 2021.
Third Quarter 2021 Financial Results
Revenue for the three months ended June 30, 2021, and 2020 was $10.3 million and $8.4 million, respectively, an increase of 22%. This increase is mainly due to an improvement in economic conditions from the impact of the COVID-19 crisis during the same period last year. Revenue for the nine months ended June 30, 2021, and 2020 was $28.4 million and $32.8, respectively, a decrease of 13%. The Advanced Technologies segment revenues for the three months ended June 30, 2021, increased by 17% to $5.8 million, and the Industrial Services segment revenues for quarter increased by 29%, to $4.5 million.
Gross Profit for the third quarter of 2021 was $4.1 million, or 40% of revenues as compared to gross profit of $3.3 million, or 39% of revenues for the year ago period. Gross profit increased due to higher sales and varied from product to product and from customer to customer.
Total operating expenses for three months ended June 30, 2021, were $6.4 million, compared to $5.7 million in the prior year’s quarter.
Operating activities for continuing operations used $6.2 million for the nine months ended June 30, 2021 compared to using $3.4 million of cash for the nine months ended June 30, 2020.
Net income for the quarter ended June 30, 2021 was approximately $1.1 million, as compared to a net loss of $4.2 million in 2020. Net income increased in the third quarter as compared to the same period last year primarily due to overall economic improvement from the impact of the COVID-19 crisis during the same period last year and the result of PPP Loan forgiveness.
Cash and cash equivalents totaled $12.9 million at June 30, 2021, as compared to $15.9 million at December 31, 2020 and $19.5 million at September 30, 2020.
Management Commentary
Cemtrex’s Chairman and CEO, Saagar Govil, commented on the results: “In the third quarter of 2021 we continued to see a renewed improvement in our segments, with revenue for the quarter up 12% sequentially from the second quarter. We remain optimistic that our revenue will continue to trend upward as the economic uncertainty due to the pandemic recedes.”
“Throughout the year we have striven to remain at the forefront of innovation by continuing to invest in the development of our roadmap including Advanced Technologies Segment’s proprietary technology, including Virtual Reality solutions, SmartDesk, and Artificial Intelligence (AI) based, next generation solutions associated with security and surveillance systems software. While we experienced some delays due to the pandemic, we believe that as we continue to roll out our exciting new products and solutions over the next year that our outlook remains positive.”
“Despite the challenges of the pandemic, we believe this focus on the evolution of our core technologies, and a commitment to driving top line growth, has put us in a strong position as our market returns to normal and customers reopen for business and resume purchasing.”
About Cemtrex
Cemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Cemtrex, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
| (UNAUDITED) | (Restated) | |||||||
| June 30, | September 30, | |||||||
| Assets | 2021 | 2020 | ||||||
| Current assets | ||||||||
| Cash and equivalents | $ | 12,879,278 | $ | 19,490,061 | ||||
| Restricted cash | 1,690,873 | 1,582,798 | ||||||
| Short-term investments | 452,175 | 887,746 | ||||||
| Trade receivables, net | 5,234,216 | 6,686,797 | ||||||
| Trade receivables – related party | 1,505,789 | 1,432,209 | ||||||
| Inventory –net of allowance for inventory obsolescence | 8,669,397 | 6,793,806 | ||||||
| Prepaid expenses and other assets | 2,164,367 | 1,188,317 | ||||||
| Total current assets | 32,596,095 | 38,061,734 | ||||||
| Property and equipment, net | 7,236,755 | 6,961,751 | ||||||
| Right-of-use assets | 3,098,523 | 2,728,380 | ||||||
| Assets held for sale | 8,323,321 | 8,323,321 | ||||||
| Goodwill | 5,886,096 | 4,370,894 | ||||||
| Other | 1,094,429 | 744,207 | ||||||
| Total Assets | $ | 58,235,219 | $ | 61,190,287 | ||||
| Liabilities & Stockholders’ Equity (Deficit) | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 2,888,144 | $ | 2,857,817 | ||||
| Short-term liabilities | 6,381,047 | 7,034,510 | ||||||
| Lease liabilities – short-term | 840,016 | 721,036 | ||||||
| Deposits from customers | 39,227 | 29,660 | ||||||
| Accrued expenses | 2,476,812 | 2,392,487 | ||||||
| Deferred revenue | 1,794,187 | 1,651,784 | ||||||
| Accrued income taxes | 331 | 89,318 | ||||||
| Total current liabilities | 14,419,764 | 14,776,612 | ||||||
| Long-term liabilities | ||||||||
| Loans payable to bank | 1,046,504 | 1,871,201 | ||||||
| Long-term lease liabilities | 2,261,148 | 2,027,406 | ||||||
| Notes payable | 3,079,743 | 6,029,999 | ||||||
| Mortgage payable | 2,282,409 | 2,355,542 | ||||||
| Other long-term liabilities | 1,078,752 | 1,063,733 | ||||||
| Paycheck Protection Program Loans | 2,871,161 | 2,169,437 | ||||||
| Deferred Revenue – long-term | 449,563 | 467,329 | ||||||
| Total long-term liabilities | 13,069,280 | 15,984,647 | ||||||
| Total liabilities | 27,489,044 | 30,761,259 | ||||||
| Commitments and contingencies | – | – | ||||||
| Shareholders’ equity | ||||||||
| Preferred stock , $0.001 par value, 10,000,000 shares authorized, | ||||||||
| Series 1, 3,000,000 shares authorized, 1,885,151 shares issued and | ||||||||
| outstanding as of June 30, 2021, and 2,156,784 shares issued and | ||||||||
| outstanding as of September 30, 2020 (liquidation value of $10 per share) | 1,885 | 2,157 | ||||||
| Series A, 1,000,000 shares authorized, zero shares issued and outstanding at | ||||||||
| June 30, 2021, and 1,000,000 shares issued and outstanding at September 30, 2020 | – | 1,000 | ||||||
| Series C, 100,000 shares authorized, 50,000 shares issued and outstanding at | ||||||||
| June 30, 2021, and 100,000 shares issued and outstanding at September 30, 2020 | 50 | 100 | ||||||
| Common stock, $0.001 par value, 50,000,000 shares authorized, | ||||||||
| 18,711,463 shares issued and outstanding at June 30, 2021, and | ||||||||
| 17,622,539 shares issued and outstanding at September 30, 2020 | 18,711 | 17,623 | ||||||
| Additional paid-in capital | 58,846,576 | 60,221,766 | ||||||
| Retained earnings (accumulated deficit) | (30,660,550 | ) | (32,520,084 | ) | ||||
| Treasury stock at cost | (148,291 | ) | (148,291 | ) | ||||
| Accumulated other comprehensive income (loss) | 1,624,673 | 1,777,112 | ||||||
| Total Cemtrex stockholders’ equity | 29,683,054 | 29,351,383 | ||||||
| Non-controlling interest | 1,063,121 | 1,077,645 | ||||||
| Total liabilities and shareholders’ equity | $ | 58,235,219 | $ | 61,190,287 | ||||
Cemtrex, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss)
| For the three months ended | For the nine months ended | |||||||||||||||
| June 30, 2021 | June 30, 2020 | June 30, 2021 | June 30, 2020 | |||||||||||||
| Revenues | $ | 10,326,431 | $ | 8,440,867 | $ | 28,422,892 | $ | 32,774,797 | ||||||||
| Cost of revenues | 6,198,715 | 5,161,015 | 16,360,822 | 18,800,355 | ||||||||||||
| Gross profit | 4,127,716 | 3,279,852 | 12,062,070 | 13,974,442 | ||||||||||||
| Operating expenses | ||||||||||||||||
| General and administrative | 5,670,019 | 5,347,718 | 16,337,200 | 15,380,199 | ||||||||||||
| Research and development | 757,966 | 331,936 | 2,033,688 | 1,113,455 | ||||||||||||
| Total operating expenses | 6,427,985 | 5,679,654 | 18,370,888 | 16,493,654 | ||||||||||||
| Operating income/(loss) | (2,300,269 | ) | (2,399,802 | ) | (6,308,818 | ) | (2,519,212 | ) | ||||||||
| Other income/(expense) | ||||||||||||||||
| Other income/(expense) | 3,901,658 | 158,134 | 6,532,590 | 830,251 | ||||||||||||
| Settlement Agreement – Related Party | – | – | 3,674,165 | – | ||||||||||||
| Interest Expense | (433,009 | ) | (1,982,101 | ) | (1,891,026 | ) | (3,812,921 | ) | ||||||||
| Total other income/(expense), net | 3,468,649 | (1,823,967 | ) | 8,315,729 | (2,982,670 | ) | ||||||||||
| Net loss before income taxes | 1,168,380 | (4,223,769 | ) | 2,006,911 | (5,501,882 | ) | ||||||||||
| Income tax benefit/(expense) | (40,759 | ) | (7,658 | ) | (168,190 | ) | (197,201 | ) | ||||||||
| Net income/(loss) | $ | 1,127,621 | $ | (4,231,427 | ) | $ | 1,838,721 | $ | (5,699,083 | ) | ||||||
| Less income in noncontrolling interest | 29,608 | (35,751 | ) | (20,813 | ) | 151,312 | ||||||||||
| Net income/(loss) attributable to Cemtrex, Inc. shareholders | $ | 1,098,013 | $ | (4,195,676 | ) | $ | 1,859,534 | $ | (5,850,395 | ) | ||||||
| Net income/(loss) | $ | 1,127,621 | $ | (4,231,427 | ) | $ | 1,838,721 | $ | (5,699,083 | ) | ||||||
| Other comprehensive income/(loss) | ||||||||||||||||
| Foreign currency translation gain/(loss) | (193,554 | ) | 154,443 | (234,045 | ) | 161,460 | ||||||||||
| Defined benefit plan actuarial gain/(loss) | – | – | 87,895 | – | ||||||||||||
| Comprehensive income/(loss) | 934,067 | (4,076,984 | ) | 1,692,571 | (5,537,623 | ) | ||||||||||
| Less comprehensive income/(loss) attributable to noncontrolling interest | (35,731 | ) | 41,266 | 14,524 | (118,623 | ) | ||||||||||
| Comprehensive income/(loss) attributable to Cemtrex, Inc. shareholders | $ | 969,798 | $ | (4,118,250 | ) | $ | 1,678,047 | $ | (5,419,000 | ) | ||||||
| Income/(loss) Per Share-Basic | $ | 0.06 | $ | (0.38 | ) | $ | 0.10 | $ | (0.82 | ) | ||||||
| Income/(loss) Per Share-Diluted | $ | 0.06 | $ | (0.38 | ) | $ | 0.10 | $ | (0.82 | ) | ||||||
| Weighted Average Number of Shares-Basic | 18,711,463 | 10,933,926 | 18,368,274 | 7,161,785 | ||||||||||||
| Weighted Average Number of Shares-Diluted | 18,711,463 | 10,933,926 | 18,368,274 | 7,161,785 | ||||||||||||
Condensed Consolidated Statements of Cash Flows
(Unaudited/Restated)
| For the nine months ended | ||||||||
| June 30, | ||||||||
| Cash Flows from Operating Activities | 2021 | 2020 | ||||||
| (unaudited) | (restated) | |||||||
| Net income/(loss) | $ | 1,838,721 | $ | (5,699,083 | ) | |||
| Adjustments to reconcile net loss to net cash provided/(used) by operating activities: | ||||||||
| Depreciation and amortization | 972,186 | 1,343,207 | ||||||
| Gain on disposal of property and equipment | 18,583 | 457 | ||||||
| Amortization of right-of-use assets | 653,175 | 352,691 | ||||||
| Change in allowance for doubtful accounts | (161,101 | ) | 126 | |||||
| Share-based compensation | 110,904 | 167,312 | ||||||
| Income tax expense/ (benefit) | 168,190 | (197,201 | ) | |||||
| Interest expense paid in equity shares | 818,348 | 2,505,924 | ||||||
| Accrued interest on notes payable | 64,748 | 308,748 | ||||||
| Amortization of original issue discounts on notes payable | 575,000 | 757,278 | ||||||
| Gain on marketable securities | (2,407,841 | ) | (607,103 | ) | ||||
| Settlement Agreement – Related Party | (3,674,165 | ) | – | |||||
| Discharge of Paycheck Protection Program Loans | (3,349,700 | ) | – | |||||
| Changes in operating assets and liabilities net of effects from acquisition | ||||||||
| of subsidiaries: | ||||||||
| Accounts receivable | 1,613,682 | 1,654,383 | ||||||
| Accounts receivable – related party | (78,594 | ) | 5,510 | |||||
| Inventory | (1,875,591 | ) | (1,384,453 | ) | ||||
| Prepaid expenses and other current assets | (976,050 | ) | (514,580 | ) | ||||
| Other assets | 149,778 | (1,017,337 | ) | |||||
| Other liabilities | 15,019 | (117,667 | ) | |||||
| Accounts payable | 30,327 | (1,205,851 | ) | |||||
| Operating lease liabilities | (650,535 | ) | (296,892 | ) | ||||
| Deposits from customers | 9,567 | 2,003 | ||||||
| Accrued expenses | (78,851 | ) | 383,230 | |||||
| Deferred revenue | 124,637 | (99,354 | ) | |||||
| Income taxes payable | (88,987 | ) | 272,925 | |||||
| Net cash used by operating activities | (6,178,550 | ) | (3,385,727 | ) | ||||
| Cash Flows from Investing Activities | ||||||||
| Purchase of property and equipment | (1,113,658 | ) | (4,541,537 | ) | ||||
| Investment in Virtual Driver Interactive | (1,075,428 | ) | – | |||||
| Investment in MasterpieceVR | (500,000 | ) | – | |||||
| Investment in related party | – | (500,000 | ) | |||||
| Proceeds from sale of marketable securities | 9,134,159 | 22,720,132 | ||||||
| Purchase of marketable securities | (6,290,747 | ) | (23,479,038 | ) | ||||
| Purchases of treasury stock | – | (190,483 | ) | |||||
| Net cash used by investing activities | 154,326 | (5,990,926 | ) | |||||
| Cash Flows from Financing Activities | ||||||||
| Proceeds from notes payable | – | 4,485,000 | ||||||
| Payments on notes payable | (2,145,257 | ) | (726,640 | ) | ||||
| Proceeds on bank loans | – | 5,947,101 | ||||||
| Payments on bank loans | (957,186 | ) | (224,196 | ) | ||||
| Proceeds from Paycheck Protection Program Loans | 2,942,285 | – | ||||||
| Proceeds from securities purchase agreements | – | 12,462,648 | ||||||
| Payments on capital lease liabilities | (20,061 | ) | (13,838 | ) | ||||
| Expenses on securities purchase agreements | – | (840,728 | ) | |||||
| Revolving line of credit | – | (425,812 | ) | |||||
| Net cash provided/(used) by financing activities | (180,219 | ) | 20,663,535 | |||||
| Effect of currency translation | (298,265 | ) | 128,771 | |||||
| Net increase in cash, cash equivalents, and restricted cash | (6,204,443 | ) | 11,286,882 | |||||
| Cash, cash equivalents, and restricted cash at beginning of period | 21,072,859 | 2,858,085 | ||||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 14,570,151 | $ | 14,273,738 | ||||
| Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash | ||||||||
| Cash and equivalents | $ | 12,879,278 | $ | 12,939,493 | ||||
| Restricted cash | 1,690,873 | 1,334,245 | ||||||
| Total cash, cash equivalents, and restricted cash | $ | 14,570,151 | $ | 14,273,738 | ||||
| Supplemental Disclosure of Cash Flow Information: | ||||||||
| Cash paid during the period for interest | $ | 432,930 | $ | 240,971 | ||||
| Cash paid during the period for income taxes | $ | 88,987 | $ | 75,724 | ||||
| Supplemental Schedule of Non-Cash Investing and Financing Activities | ||||||||
| Investment in Virtual Driver Interactive | $ | 439,774 | $ | – | ||||
| Stock issued to pay for products and/or services | $ | – | $ | 428,538 | ||||
| Stock issued to pay notes payable | $ | 2,187,837 | $ | 6,933,924 | ||||
Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Website: https://www.marketsandmarkets.com/
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
Optimized Visuals Tailored for Football Dynamics
The Toshiba REGZA Engine ZRi in Z670 transports football fans into the heart of the action. With the AI Football Mode, they’ll be able to see fast-moving objects crystal clear and football field actions much enriched. To see their favourite player score that winning goal, the AI Picture Optimizer automatically adjusts visual contrast and precision adapted to the game. From vivid green fields and vibrant player kits, every play comes to life with AI 4K Upscaling and Quantum Dot Color, transforming lower-resolution broadcasts into near-4K quality and unleashing lifelike visual color.
Powerful Audio Effects for a Live Stadium Experience
The Toshiba TV Z670’s powerful audio system makes viewers feel like they’re right in the game. With the REGZA Bass Woofer Pro, Tru Bass Booster, and Dolby Atmos, they’ll experience heart-thumping 3D surround sound that captures the live stadium atmosphere. Whether it’s the roar of the crowd or the intensity of each play, the rich audio brings the excitement of each game right into their room.
Bringing Everyone Together for UEFA EURO 2024™
Available in sizes ranging from 55″ to 85″, Z670 is equipped with a Wide Viewing Angle and Anti-reflection features that ensures a clear picture from all viewing positions with the non-glare panel. Gather everyone for “Brilliant Every Moment” in UEFA EURO 2024™ with Toshiba TV!
Please find the high-resolution TVC here: Link
About Toshiba TV:
With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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View original content:https://www.prnewswire.co.uk/news-releases/scoring-a-seat-at-uefa-euro-2024-with-top-performing-ai-powered-toshiba-tv-lineup-302172970.html
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