Analysis
New iPhone, new headphones
It's no coincidence that, a few days after Apple (NASDAQ:AAPL) started shipping its latest iPhones to customers, Harman International Industries (NYSE:HAR) introduced new wireless headphones. With iPhone shipments largely exceeding expectations, the controversial exclusion of a 3.5mm headphone jack has prompted audio equipment makers to emphasize bluetooth headsets.
Harman, which sells audio equipment under its JBL, AKG and Harman Kardon brands, is no stranger to the Apple ecosystem, having provided iconic audio accessories for Apple's products in the past. Of course, headphones for iPhones aren't Harman's only products - in fact, its biggest segment is 'connected car'. This unit provides audio solutions to luxury automakers such as BMW (OTCPK:BMWYY), Audi (OTCPK:AUDVF) and Porsche (OTCPK:POAHY) as well as mass-market automakers like Toyota (NYSE:TM), Ford (NYSE:F) and Hyundai (OTC:HYMPY).
