Craig Electronics
{{Short description|American consumer electronics company}}
{{Infobox company
| name = Craig Electronics
| logo = Craig Electronics logo.svg
| type = Private
| defunct =
| key_people = Michael L. Newman, President
Joel Newman, Founder
| industry = Consumer Electronics
Vehicle audio
| parent =
| foundation = {{start date and age|1963}}
| founders =
| location = Miami, Florida, U.S.
| homepage = {{URL|https://craigelectronics.com/}}
}}
Craig Electronics is an American brand that specializes in consumer electronics, primarily sold at pharmacies, big-box stores and through online retailers.{{cite web|url=http://fortune.com/2014/01/14/so-youre-back-from-ces-was-it-worth-it/|title=So you're back from CES. Was it worth it?|website=Fortune.com|access-date=15 December 2018}}
History
Craig Electronics was founded in 1963 as a manufacturer of home and car stereos. The company had many celebrity sponsorships for stereo systems, which included The Beach Boys, Ray Charles, Ringo Starr, and Emerson, Lake & Palmer.{{cite web|last=|first=|date=|title=Our History|url=http://www.craigelectronics.com/our-history/|url-status=live|archive-url=https://web.archive.org/web/20200622151342/http://www.craigelectronics.com/our-history/|archive-date=2020-06-22|access-date=15 December 2018|website=Craig Electronics}}
In 2001, the company was re-established as a manufacturer of low-cost consumer electronics, including MP3 players, netbooks, and speakers.{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=23108660|title=Bloomberg - Company Overview of Craig Electronics Inc.|website=Bloomberg.com|access-date=15 December 2018}} Craig also has a brand licensing deal to sell certain consumer goods under the Magnavox brand.{{cite web|url=https://www.licensing.org/inside-licensing/at-ces-licensing-stretches-brands-in-new-directions/|title=At CES, Licensing Stretches Brands in New Directions|website=Licensing.org|access-date=15 December 2018}} In 2013, Craig Electronics, along with Curtis International and ViewSonic were sued for patent infringement by MPEG LA.{{cite web|url=https://www.businesswire.com/news/home/20130801006617/en/Craig-Electronics-Curtis-International-ViewSonic-Sued-MPEG-2|title=Craig Electronics, Curtis International and ViewSonic Sued for MPEG-2 Patent Infringement|date=1 August 2013|website=Businesswire.com|access-date=15 December 2018}}
In 2003, the company's then-president, CEO, and chairman, Richard I. Berger, was found guilty of fraud.{{Cite book |last=United States Securities and Exchange Commission |title=SEC Docket: A Weekly Compilation of Releases from the Securities and Exchange Commission |publisher=The Commission |year=2003 |pages=370 |language=English}}
In 2015, Craig Electronics and Curtis International were sued by Seoul Semiconductors for patent infringement.{{Cite web |date=2015-12-09 |title=Seoul Semiconductor Wins Patent Suits with American, Japanese Companies |url=http://www.businesskorea.co.kr/news/articleView.html?idxno=13245 |access-date=2022-05-18 |website=Businesskorea |language=ko}}{{Cite web |last=박한나 |date=2016-09-11 |title=Seoul Semiconductor sues Kmart for patent infringement |url=http://www.koreaherald.com/view.php?ud=20160911000251 |access-date=2022-05-18 |website=The Korea Herald |language=en}}
In 2019, Craig Electronics was acquired by Nova Capital Management, and along with Shur-Line, Bulldog, and World and Main electronics, they now operate under H2 Brands group.{{Cite web|last=Management|first=Nova Capital|title=Nova Capital Management Acquires Craig Electronics|url=https://www.prnewswire.com/news-releases/nova-capital-management-acquires-craig-electronics-300932927.html|access-date=2021-08-18|website=www.prnewswire.com|language=en}}
In 2022, Craig Electronics was acquired by Newtech Holding from Nova Wildcat Fund.{{Cite web|last=Management|first=Newtech Holding |title= NEWTECH HOLDINGS ACQUIRES CRAIG ELECTRONICS FROM NOVA WILDCAT FUND|url=https://www.prnewswire.com/news-releases/newtech-holdings-acquires-craig-electronics-from-nova-wildcat-fund-301686157.html|website=www.prnewswire.com|language=en}}
File:A Craig audio system, 1960s.jpg|A Craig audio system, 1970s
File:Craig Netbook.jpg|Craig netbook running Android 4.0
References
{{Reflist}}
External links
- [https://www.craigelectronics.com/ Official website]
Category:American companies established in 1963
Category:History of radio in the United States
Category:Electronics companies of the United States
Category:Consumer electronics brands
Category:Companies based in Miami
Category:Manufacturing companies established in 1963
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