We could lastly be near Sonos releasing its long-rumored headphones. The corporate has been rumored to be working by itself wi-fi headphone lineup to compete with Apple, Beats, Sony, and Bose, however these rumors haven’t gone wherever simply but.
Nevertheless, we would lastly really get what we’ve been ready for. In its fourth-quarter earnings report, Sonos CEO Patrick Spence spoke on the corporate’s mediocre monetary efficiency for the quarter and the 12 months, saying that it was “a difficult 12 months within the classes by which we play.”
“Whereas it was a difficult 12 months within the classes by which we play, the power of the Sonos model and product portfolio enabled us to retain a robust market share place. We efficiently raised the bar within the speaker class with the introduction of our new Period merchandise, and prolonged our management within the premium moveable class with Transfer 2. And we delivered on our dedication to EBITDA margin regardless of the headwinds we confronted.”
Issues obtained fascinating when Spence went on to speak about what to anticipate subsequent 12 months. In a press release, the CEO mentioned that its subsequent fiscal 12 months will kick off “the start of a multi-year product cycle” that features “entry into a brand new multi-billion greenback class.”
“As we enter Fiscal 2024, we’re laser centered on execution and positioning our enterprise to return to prime and backside line development when circumstances enhance. Whereas present market circumstances stay difficult, that is the start of a multi-year product cycle the place we anticipate to reap the rewards of our R&D investments. This cycle begins with our entry into a brand new multi-billion greenback class within the second half of the 12 months that may complement our present providing, delight prospects and drive speedy income. We’re so enthusiastic about what we now have to share with the world in Fiscal 2024 and past.”
That multi-billion greenback class is probably going the headphone market. In response to Statista, the headphone market is predicted to achieve a price of $17.9 billion in america alone this 12 months. Globally, that market is predicted to cross $100 billion by the top of the last decade. That’s a ton of market share alternative for Sonos, an organization that has established itself as a pioneering audio firm.
Whereas we seemingly have to attend till the second half of subsequent 12 months to truly get our palms on Sonos’ subsequent large product (no matter it could be), the corporate nonetheless had various releases this 12 months. Along with rolling out the brand new Period 100 and Period 300 dwelling audio system, Sonos additionally launched the Transfer 2, the following technology of its large and loud moveable speaker.
Whereas Sonos teases a brand new lineup of wi-fi headphones, I’m nonetheless over right here ready for Apple to launch an replace to the AirPods Max that eliminates the Lightning port and replaces it with USB-C. It’s the very last thing I want to completely go away Lightning behind. I ponder if Sonos will get to it earlier than Apple does.