Sonos confirms plans to enter a new product category, likely to be headphones or earbuds
Sonos confirms plans to enter anew product category next year.
Sonos CEO Patrick Spence shared that 2024 will begin with the company's entry "into a new multi-billion dollar category" that will complement its current devices, "delight customers and drive immediate revenue".
Spence added during the company's earnings call that the new product is expected to account "for a larger portion" of revenue in the second half of 2024.
Although Sonos did not reveal what product they are going to launch, an internal memo leaked to Bloomberg reveals the new product is likely to be headphones, as there is a team working on headphones within Sonos.
Obviously, the personal audio industry is huge. If you commute to school or work in the morning, just count the number of people with headphones or earbuds.
Furthermore, Sonos recently acquired Mayht, a Dutch company that specialises in creating small speakers that doesn't compromise on quality.
Finally, Sonos currently sells wireless speakers, soundbars, and home theatre devices. By offering its own headphones, Sonos will strengthen its ecosystem of audio devices.
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