Summit Wireless Technologies raised $1.7 million in a private placement of a secured convertible security in March, said CEO Brett Moyer Thursday. The company is continuing to evaluate additional funding options, including financial alternatives, investment options with partners and COVID-19 government loans, Moyer said. Summit hasn't had “major impact” to project timelines or securing retail placement of customers’ products beyond four to eight weeks, but it initiated expense and temporary salary reductions expected to result in savings of up to $1 million in Q2 vs. Q4, said the executive.

Automated frequency coordination (AFC) in the 6 GHz band doesn’t need to be complex to be effective, tech companies told the FCC. Apple, Broadcom, Cisco, Facebook, Google, Intel, Microsoft, Hewlett Packard Enterprise, Qualcomm and Ruckus signed a letter, posted Friday in docket 18-295. The companies argue AFC should be reserved for standard-power devices operating indoors and outdoors. “Unnecessarily burdensome AFC requirements could greatly increase the cost of AFC implementations, delaying the availability of AFC-controlled devices, limiting innovation, and driving up costs for consumers,” the companies said: “Our companies strongly support the Commission’s long history of light-touch, technology-neutral and innovation-friendly decision-making, especially with respect to unlicensed operations.” Rules should be targeted and concise and “emphasize security and robust interference protection," they said.

Samsung Electronics America unveiled the Ascend Partner program Tuesday, saying it adds more tiers, a new partner portal and automated tools and processes for mobile, display and solid-state drive solution partners. It replaces the legacy Step program, taking a “simplified approach” for partners “by increasing market opportunities” and providing a single point of access to sales programs and resources, said the company. New tools include rebates and incentives and ways to “gain greater visibility” into performance through a “one-stop-shop” user interface. The Ascend partner portal gives access to marketing collateral, special pricing, deal registration, performance dashboards and digital training courses, it said. A central part of Samsung’s channel strategy for the business-to-business mobile division is to combine partners’ expertise with Samsung devices and endpoints to address the mobile needs of vertical industries, it said.

Mastercard announced a global partnership with Samsung to give digital access to consumers and small businesses in emerging markets through its Pay on Demand platform. Mastercard's Pay on Demand uses Samsung’s embedded Knox security platform. Tools let consumers analyze their credit history and get virtual card numbers that can be used to pay for their device and make transactions where Mastercard is accepted, it said Thursday.

Xperi raised its Q1 intellectual property billings outlook Tuesday from $100 million-$104 million to $108 million-$110 million. “We have improved visibility in our 2020 billings outlook for the IP licensing business as we have eliminated any uncontracted IP billings risk for the remainder of the year,” said Robert Andersen, chief financial officer. The stock closed 5.9% higher Tuesday at $14.86.

Citing the coronavirus outbreak, TCL went online to launch its 2019 TV series Wednesday at its streamed spring product launch event in Hong Kong. The 13 TVs, divided into three categories, included a quantum dot QLED, P9 “Hollywood theater” TV and AI TV, said the company. TCL outlined a two-pronged strategy around technology and connectivity with other product categories, including appliances. During the Chinese Lunar New Year, when the coronavirus outbreak was at a peak in China, consumers spent 35% more time watching TCL TVs vs. the corresponding period last year, it said. The average daily click rate of the “Against the Epidemic" channel on TCL smart TVs registered over 50%, “indicating that an increasing number of users choose TV as the news source of the epidemic.”

Sonos added two slots to its board, bringing it to nine members, said the company Tuesday. It named as a class III director Deirdre Findlay, Conde Nast chief marketing officer, for a term ending in 2021. Joanna Coles, a TV producer at Disney and former chief content officer at Hearst Magazines, was appointed class I director for a term ending in 2022. Both directors will receive an annual fee of $50,000 for sitting on the board and an annual equity award of restricted stock units with a grant date value of about $175,000, said an SEC filing.

Smart speakers with Atmos Music and vehicle entertainment systems could drive incremental licensing growth at Dolby, Dougherty & Co. analyst Steven Frankel wrote investors Monday. As Atmos Music scales, it could be adopted in smart speakers, a 146.9 million-unit market last year, according to Strategy Analytics, and it could be used as a “premium audio” differentiator in mid-tier and low-end phones, said Frankel. In cars, where Dolby once built a presence through rear-seat DVD entertainment systems, the automotive business could be “re-invigorated” through Atmos Music, said the analyst, noting a vehicle’s multiple speakers “make an ideal environment” for the technology. Early support for Atmos Music comes from Amazon through its Music HD service that carries Atmos tracks and its compatible Echo Studio speaker. The audio technology is also found in Apple’s product line and in select Samsung handsets, he said. On the coronavirus impact on Dolby, Frankel said it’s premature to have a fix on the impact of supply chain issues among Dolby customers. While 20% of Dolby Cinema locations are in China, that business accounts for a single-digit percentage of overall sales, he said. If Dolby does feel an impact, “it is likely to come from some sort of material global reduction in demand for consumer electronics and other devices rather than direct demand from its Chinese customers," he said.

Bowers & Wilkins stakeholders thought “having two boards would better reflect our specific fields of responsibility going forward,” Andy Kerr, director-product marketing and communications, emailed Friday about the company's restructuring to form a board independent of owner Eva Automation. “As of now, EVA is responsible for licensing and software development, while Bowers & Wilkins remains focused on everything to do with audio,” said Kerr, adding “everything that the brand is already well known for.” B&W stakeholders are “actively supporting this change with additional funding to further develop the business.” A Thursday news release (see 2002270054) said the companies will continue to cooperate with each other “where mutually beneficial.” Responding to our question whether the two companies will separate completely, Kerr said, “That’s not currently planned.” Eva remains a Bowers & Wilkins shareholder, he said. David Duggins, tapped as “sole Independent Director” in the new B&W structure, has 25 years’ experience in the restructuring market, said Kerr. Geoff Edwards, assuming responsibility for leading the team with responsibility for day-to-day operations, is a 17-year veteran of the high-end audio company: “He knows our brand inside out,” Kerr said. Joe Atkins, CEO of B&W when it was acquired by Silicon Valley-based Eva Automation in 2016 (see 1605030054), is one of the secured creditors who have taken control of the company, those familiar with the situation told us. Atkins wasn’t available for comment. Eva Automation CEO Gideon Yu, co-owner of the San Francisco 49ers, couldn't be reached for comment. Visitors to Evaautomation.com were redirected to the B&W website Friday.

Former Bowers & Wilkins CEO Joe Atkins has assumed control, with other secured creditors, of the high-end audio company, a source familiar with the situation, told us. B&W announced Thursday it will have a board that’s independent of Eva Automation, a Silicon Valley technology company that caught the audio world off guard three years ago with its purchase of the high-end audio brand (see 1605030054). Gideon Yu, co-owner of the San Francisco 49ers and former chief financial officer at Facebook and YouTube, and Greg Lee “are no longer leading Bowers & Wilkins,” said the news release. The businesses will continue to cooperate “where mutually beneficial,” said B&W. David Duggins was appointed to the B&W board as sole independent director; Geoff Edwards is leading the executive team, assuming responsibility for day-to-day operations, it said. “This highly experienced management team will ensure stability as the business looks to continue its recent success in the months to come,” said the company. The overall business performance of Bowers & Wilkins remains "very good," said the company. Its partnerships with Philips TV, BMW, Maserati, McLaren and Volvo "continue to thrive," it said. The company referenced "new product launches in the months to come," but didn't provide details. Yu and Lee couldn’t be reached for comment. Atkins didn’t immediately respond to questions.