Sonos, who has seen key investors cut back their shareholding in the US audio Company, is getting set to announce a competitor to the Apple HomePod, with an announcement possibly due ahead of their Q3 2023 financials.

Called the Era 300, the speakers are a totally new design compared to previous Sonos speakers and incorporate new spatial audio and Dolby Atmos capability.

Traditionally Sonos, who generate 56 per cent of their revenue from cheap Ikea speakers, attract Apple customers due to the lack of an Apple audio offering. Now, with the launch of a new larger Apple HomePod and a smaller one due soon, Sonos is set to see a large chunk of this audience return to buying Apple product over Sonos, claim observers.

The new offering will include an Era 300 and Era 100, according to a leaked document seen by The Verge.

Additionally, Sonus, a manufacturer of TV mounts and speaker accessories, recently referenced Era speakers in a document sent to retail partners.

Observers claim the new speaker will be a multidirectional speaker built to get the most from spatial audio.

Also built-in is USB-C charging and Wi-Fi 6 connectivity, as well as Bluetooth playback.

ChannelNews understands that the speakers will also be Matter-compliant, as Sonos looks to be taken seriously as a source for home automation communication.

Sonos is set to announce their next financials for the Q3 quarter on March 10 Australian time. Their shares fell 4.7 per cent last night and are down $29.7 per cent for the past year.

CEO Patrick Spence has previously stated the company will enter four new product categories this year, including an OS for TVs

The Verge claims the Company is also working on a second-generation Sonos Move speaker.

The first-generation Move was announced in 2019.