Sonos, a company known for its high-end smart speakers and soundbars, is gearing up to expand its product line and enter new markets. According to a report by Bloomberg, the company is planning to launch a range of new products, including over-the-ear headphones, smaller wireless earbuds, a streaming box for TVs, updated versions of its home theater equipment, and a more expensive speaker aimed at businesses.
The new over-the-ear headphones are expected to be priced at more than $400, putting them in direct competition with Apple’s AirPods Max and AirPods, as well as devices from Sony and Bose. Sonos aims to position its headphones as a premium offering, with features such as seamless integration with other Sonos speakers and voice control for music navigation. The headphones are scheduled to be released by April next year in black and white color options.
In addition to the headphones, Sonos is also working on smaller in-ear wireless earbuds, which will further expand its audio product lineup. The company is looking to tap into the growing market for wireless earbuds, currently dominated by Apple’s AirPods and other competitors.
Another key product in Sonos’ expansion strategy is the streaming box for TVs, which is expected to be released by the end of 2024 or early 2025. The streaming box will run on an Android-based operating system and will support various streaming apps, similar to existing streaming boxes from competitors. Sonos is reportedly in talks with Netflix and other companies offering live television to support its streaming box, positioning it as a comprehensive entertainment hub for consumers.
Apart from new audio products, Sonos is also working on updated versions of its current home theater equipment, including a new subwoofer, a second-generation Roam speaker, and a new version of its high-end Arc soundbar. The updated Arc soundbar is expected to come with a higher price tag of $1200, compared to the current model that retails for $900. Sonos is also planning to release a more expensive speaker called the Era 100, which is aimed at businesses and will feature an ethernet port for professional installations.
The expansion and introduction of new products are part of Sonos’ efforts to revive its sales, which have reportedly slumped this year. Sonos CEO, Patrick Spence, mentioned in an earnings call earlier this month that the company expects the revenue from new products to account for a “large portion” of its overall revenue by the second half of 2024.
The move into new product categories and markets represents a strategic shift for Sonos, as it aims to diversify its offerings and capture a larger share of the consumer audio and entertainment market. By expanding its product lineup to include headphones, wireless earbuds, and a streaming box for TVs, Sonos is positioning itself as a comprehensive audio and entertainment solution provider for consumers.
Overall, Sonos’ planned expansion into new markets and product categories reflects the company’s ambition to remain competitive and innovative in the rapidly evolving audio and entertainment industry. With a focus on premium quality and seamless integration with existing Sonos products, the new offerings are poised to appeal to a wide range of consumers and further solidify Sonos’ position as a leading audio technology company.