Sonos Is Expanding Into Wireless Headphones — Priced In the $300 Range
Sonos will be expanding its product range with high-end headphones, according to sources familiar with the company’s plans.
The company will bring Bluetooth over-the-ear headphones to the market as early as next year. The headphones are currently in development and are rumored to cost around $300 or more.
Sonos will be focusing on audio quality and integration with multiple digital assistants and music services. Similar to Sonos’ latest smart speakers, the headphones will likely support Spotify, Apple Music, Alexa, and Google Assistant.
According to people familiar with the company’s plans, Sonos has been approaching manufacturers for producing the headphones. Bloomberg initially broke the report and asked Sonos for a comment, but a spokesperson says the company doesn’t comment on future product plans.
The Sonos public IPO in August wasn’t as successful as the company hoped. The $15 initial price has dropped more than 25% since the opening, with continued downward pressure. Sonos faces a crowded market with its primary product, so branching out makes sense.
Amazon’s Alexa smart speakers command more than 70% of the market share of smart speakers. The Sonos Beam soundbar has sold well, and the company beat analysts’ revenue estimates in Q3. Sonos says that half of music listening occurs outside of the home, and the company needs products to tackle that part of the market.
“We plan to push our boundaries by investing resources to make the experience of Sonos outside the home a reality.”
Sonos is feeling the squeeze in the smart speaker market for the home, but the high-end headphone market is no less crowded. Bose, Beats, Sennheiser, Skullcandy, and numerous other companies all have a high-end headset option.
Even Apple is rumored to be joining the space under its own brand outside of its music-focused Beats brand. The Apple-branded headphones could arrive later this year, according to rumors.