Sonos has been dumped from Apple’s online store with the iPhone makers website revealing that they only now range products from Beats, a company it bought in 2014, the move came as the US sound Company revealed falling sales and losses.
Sonos revenues for Q2 2024 fell from US $304M in the same period last year to $252M as of March 30th, 2024.
The business reported a nett loss of US $69.7 million, margins also fell along with their shares on the news.
Asia Pacific revenues of which Australia is the largest market fell from US$18.5M to $13.1M in the last quarter a slump of $5.4 million.
One of the biggest slumps for the Company who is looking to get into the headphone business came with demand for their Sonos speakers falling significantly, along with demand for system products.
At this stage it’s not known what impact the loss of Apple as a retailer for the goods will have with the likes of JB Hi Fi set to benefit from the move.
Sonos CEO Patrick Spence did not address the losses or the fall in profits, but he did claim “Today marks the launch of our completely reimagined Sonos app, which is our most extensive app redesign ever. This is a major step in enabling our multi-year product cycle and sets us up well for the launch of our highly anticipated new product later this quarter.”
The new product is the Sonos Ace headphones which we revealed yesterday.
With the business struggling to sell their speakers there’s a lot riding on Sonos’ first pair of wireless headphones.
CEO Patrick Spence claims that the new product category will be a huge revenue driver for his company after Sonos has faced cooling demand for its speakers.
Some observers claim the move has come too late for the business.
