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Koss Corporation

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Koss Corporation
Company typePublic
NasdaqKOSS
IndustryElectronics
Founded1953; 71 years ago (1953)
HeadquartersMilwaukee, Wisconsin
Area served
Worldwide
Number of employees
31[1] (2023)
Websitekoss.com
Koss Porta Pro headphones
Koss Pro/4AA headphones

Koss Corporation is a company in Milwaukee, Wisconsin, US that manufactures headphones. The company introduced the first high fidelity stereophones.[2]

History

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John C. Koss founded the J.C. Koss Hospital Television Rental Company in 1953.[3] After a short time Koss was looking for new ideas, and partnered with Martin Lange to eventually develop a stereo headphone. Based in Milwaukee, Wisconsin, United States, in 1991 Koss Audio & Video Electronics started producing and selling consumer electronics products as a separate company in Hazelwood, Missouri, United States. The Koss family owns more than 75% of the firm.

Having only a high school education, John C. Koss worked with Lange, an engineer, to develop the headphone that launched the company almost by accident, as they came upon the headphone idea as a result of an attempt to market a portable phonograph.[4] What made this product unique was the privacy switch feature, which gave listeners the opportunity to listen to the first Koss SP/3 Stereophones. Initially, the product's purpose was to demonstrate to consumers the high-fidelity stereo sound of the portable phonograph.[5]

Until then headphones had only been used in communications applications. In 1958 the design was introduced at a hi-fi trade show in Milwaukee, and audiences approved of it. Soon after the trade show, Koss went into business manufacturing and marketing stereophones from his basement apartment. The technology was imitated by competing manufacturers.[5]

In the early 1970s, Koss worked out of two locations near each other. One was Koss TV-Rental, which also did electronics and musical instrument repairs; the second was the main facility two blocks to the east. At this time, Koss pioneered the high-end "electro-static" "ES series" headphone market. These headphones set the standard for wide-range frequency response. Being very durable, they required service for wear and tear on cords and earpads during their lifespan, by K&M Electronics (Klenworth & Midwest based in Minneapolis), working out of the TV Rental location. Koss headphones were easy and cost-effective to repair. At this site, a separate garage was set up to support the musical instrument and electronics repair business. The TV rental and repair site was managed by John's brother Pete Koss. Eventually, Koss dominated the headphone market, competing mainly with Telex. Koss was considered a higher quality unit at the time, offering a wide line of models.[citation needed]

In the late 1970s, to accommodate rapid growth, Koss moved to its present location on the north side of Milwaukee.[citation needed]

in the 1980s, Koss tried to diversify, unsuccessfully, into related areas of electronics; in 1984 the company filed for bankruptcy protection after a net loss that year of US$6 million (equivalent to $17.6 million in 2023). Koss emerged from Chapter 11 bankruptcy proceedings in 1985.[4]

In 1991, Michael J. Koss, son of founder John C. Koss, took over as president and chief executive officer.[6]

In December 2009, former vice president of finance Sujata "Sue" Sachdeva was charged in federal court with wire fraud after the firm discovered her embezzlement of US$34 million (equivalent to $48.29 million in 2023), and sentenced to eleven years in federal prison,[7] of which she served six years.[8] Koss was forced to restate five years of financials.[9] It was able to recoup over US$12 million from its former auditor, from Sachdeva's credit card company, and by auctioning Sachdeva's stolen merchandise.[8]

In 2020, Koss sued Apple, Bose, JLAB Audio, Plantronics Inc., and Skullcandy for patent infringement.[10] In July 2022 Koss and Apple reached a settlement for an undisclosed amount regarding the alleged patent infringement on Koss' intellectual property. [11]

During the 2021 GameStop short squeeze, the executives and directors of Koss earned US$40 million by selling company stock. This was more than the value of the Koss Corporation at the end of 2020.[12]

Products

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Product Description Year Released
SP/3 The World's First Stereophone 1958
Pro4 Stereophones Elected #1 by Consumer Union Magazine in 1963 1962
Beatlephone Beatles Tribute Stereophone 1966
ESP/6 The first self-energizing electrostatic stereophone 1968
Pro4AA Featured a speaker system specially designed for dynamic stereophones 1970
HV1A The first dynamic stereophone to deliver all 10 audible octaves 1974
Porta Pro Portable "high-end supra-aural stereophone model" 1984
JCK/300 Kordless Stereophone System Cordless stereophone system with infrared technology 1989
ESP/950 Electrostatic, complemented by the E/90 amp[13] 1990
QZ1000 Quiet zone noise reduction stereophone 1993
KSC35 Earclip stereophone 1995
The Plug Plug in-ear earphone 1999
Sporta Pro Tilting headband reduces hair/hat interference, based on Porta Pro 1999
QZ/5 Provides isolation from all types of outside noise, high and mid frequency 2000
UR/20 Incorporated a neodymium, rare earth magnet and 16-micron mylar diaphragm for deep bass and treble clarity 2000
KTXPro1 Rubber headband 2002
UR40 Foldable headphones 2002
KSC75 Earclip headphones 2004
CC_01 Earphones with adjustable, in-ear fit. 2009
KDE250 Adjustable earclip headphones 2009
FitClips Earclip activewear headphones designed for women 2010
Striva World's first Wi-Fi headphones 2012
BT540i Wireless headphones with Bluetooth aptX codec 2014
SP Series: SP540 and SP330 Designed specifically for personal listening 2014
Pro4S Professional studio headphones 2014
UR23i Headphones with D-Profile design, In-line one-touch microphone, and tangle-resistant flat cable 2015
KPH14 Side-firing headphones for active lifestyles 2015
KEB25i Headphones with a dynamic element positioned just outside the ear, connected to a tubular port structure that inserts into an expandable cushion 2015
BT539i Headphones with D-Profile design, Bluetooth 2017
KPH30i Pro35/KTXPro1 inspired 2017
PortaPro Wireless In-line mic, onboard controls, wireless 2018
Noise Canceling QZ Buds Monitor mode switch deactivates noise cancelling 2018
CS300 USB Flexible mic, electret mic 2018
Utility Series KPH40, KEB90, and PortPro with detachable cables 2021

Koss headphones were also sold in RadioShack stores under their own brand. The Koss Plug and Koss Spark Plug are in-ear passive noise-isolating earphones; they can be adapted to take the high-end Etymotics ear tip, becoming the "Koss Hybrid". Other models include the Koss Porta Pro and well-regarded budget-priced headphones including the KSC series.[14] Since 1989, all headphones manufactured in North America by KOSS come with a limited lifetime warranty covering normal use by the initial owner.[15] Returning to the pre-Koss use of headphones, Koss produces communications headsets with microphone.[16]

Notes

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  1. ^ "SEC Filing | Koss Corporation". investors.koss.com. June 20, 2023.
  2. ^ "The History of Headphones | Cool Material". coolmaterial.com. Retrieved 2015-09-10.
  3. ^ "Koss Corporation History". fundinguniverse. Retrieved 9 June 2020.
  4. ^ a b Barrier, Michael (1990). "Life after near-death - Koss Corp. near bankruptcy". Nation's Business. Archived from the original on 2008-02-20.
  5. ^ a b "John C. Koss Receives Wisconsin History Maker Award | Wisconsin Historical Society". www.wisconsinhistory.org. 9 May 2007. Retrieved 2015-09-10.
  6. ^ "Michael J. Koss: Executive Profile & Biography". Bloomberg. Retrieved 2017-12-06.
  7. ^ "Ex-Koss exec gets 11 years for $34 million embezzlement". NBC News.
  8. ^ a b Spivak, Cary (April 6, 2017). "Sachdeva out of prison after serving six years for stealing $34 million from Koss Corp". Milwaukee Journal-Sentinel. Retrieved 2018-01-17.
  9. ^ Newquist, Caleb (July 1, 2010). "Koss Files Restated Financial Statements, Just in the Nick of Time". goingconcern. Retrieved 2018-01-17.
  10. ^ "Headphone maker Koss Corp. Sues Apple, Bose and three others for patent infringement".
  11. ^ Brittain, Blake (25 July 2022). "Apple, Koss settle wireless-headphone patent fight before trial". Reuters.
  12. ^ Hauer, Sarah (February 4, 2021). "Koss family got $32 million from Reddit-fueled stock market frenzy -- more than the company was worth at the end of 2020". Milwaukee Journal Sentinel.
  13. ^ Guttenberg, Steve. "The Koss ESP-950 headphone dazzles the Audiophiliac". CNET. Retrieved 2023-04-17.
  14. ^ Koss KSC 75 @ HeadRoom - Right Between Your Ears
  15. ^ "Warranty Repair". Koss Stereophones. 7 February 2019.
  16. ^ "Communication Headsets". Koss Stereophones. Retrieved 8 February 2023.

References

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