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Turtle Beach (HEAR) Boosts Gaming With Innovative Product Launches

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After demonstrating its forte in the gaming headsets and PC accessories market, Turtle Beach Corporation HEAR bolsters its footprint in the entertainment industry with the launch of two avant-garde products — Recon Controller and VelocityOne Flight simulation control system. These products were showcased at the E3 2021 expo, a major trade event of the video game industry.

The event, which commenced from Jun 12, exhibits innovative products developed by several hardware manufacturers and software developers, and Turtle Beach is one among many participating companies. Markedly, the launch marks the San Diego, CA-based audio technology company’s foray into the booming gaming accessory market segments — gaming simulation hardware and game controllers.

Interestingly, the acquisition of ROCCAT in 2019 enabled Turtle Beach to augment its presence in the $1.6-billion personal computer gaming headset market as well as in the $1.3-billion PC gaming keyboard and mouse market. In sync with this, the latest move expands its global reach with access to nearly $600 million worth third-party gamepad controllers market and $400 million of PC/console flight simulation hardware market, thereby reaching a remarkable tally of $1 billion.

Equipped with enhanced audio features, the Recon Controller has been specifically designed to support Xbox devices. Impressively, gamers can connect any wired 3.5mm gaming headset to take the gaming experience to a whole new level, thanks to controller innovations like Pro-Aim Focus mode, ergonomic cooling grips and mappable quick-action buttons. Its patented audio functionality, Superhuman Hearing, provides a gaming audio superiority with easy access audio controls like mic monitoring and game & chat volume mix.

Meanwhile, the VelocityOne Flight offers the most comprehensive flight control solution that allows customers to set up their own cockpit at home. It has been created in collaboration with leading aeronautical engineers and pilots. Compatible with Xbox Series X|S, the device is powered by a realistic yoke design and modular throttle quadrant that provides a true-to-life experience for both heavy jets and light aircrafts. Also, it can monitor navigation and engine systems, backed by status alerts on a real-time basis.

Notably, the Recon Controller and VelocityOne Flight will be commercially available this summer for MSRP of $59.95 and $349.95, respectively. Most importantly, with the launch of Neat Microphones’ much-awaited portfolio in 2021, the company’s presence in the game controllers and gaming simulation hardware markets is likely to give a significant boost to its growth trajectory while reinforcing its brand image.

The Zacks Rank #3 (Hold) stock has increased 34.4% compared with the industry’s growth of 7.2% in the past three months. With a VGM Score of A, it has a long-term earnings growth expectation of 16%.

Zacks Investment Research
Zacks Investment Research

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Some better-ranked stocks in the industry are Altice USA, Inc. ATUS, Corning Incorporated GLW and Ooma, Inc. OOMA. While Altice sports a Zacks Rank #1 (Strong Buy), Corning and Ooma carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average.

Corning delivered a trailing four-quarter earnings surprise of 39%, on average.

Ooma delivered a trailing four-quarter earnings surprise of 65.5%, on average.

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