Sonos has finally released an expensive Sub Mini, in an effort to grow sales and bolster their flagging profits, after the failure of their small Sonos Ray soundbar which the Company was banking on in the last quarter to bolster revenue.

The $699 Sonos compact wireless subwoofer, was designed to deliver better sound to small rooms as Sonos searches for new products to bolster flagging sales and lift profits.

Sonos shares are falling with investors less than impressed with the Companies latest product offering. Overnight the shares fell a further 2.83% with the stock down 29.6% year on year.

Quarterly revenues are down 1.8% to $372 million, owing to soft demand for its products amid continued supply constraints and unfavourable foreign exchange movements.

Profits are also down with the Company slashing its outlook for fiscal 2022.

They have also moved to postpone product launch from this quarter to the first quarter of fiscal 2023.

This has led to the business banking on their new compact wireless subwoofer which is just 23cm by 30.5 cm in size.

The new product available in black and white, has been designed around a pair of 6-inch woofers, each powered by a class-D amplifier, which face each other.

The design creates a force-cancelling effect that Sonos engineers claim minimises unwanted noise while delivering a low-frequency response down to 25 Hz.

The Sonos Sub Mini can be mix and match with all Sonos products including the Beam Gen 2, Ray, One, One SL or Symfonisk speakers in small to medium-sized rooms.

Connectivity is via a low-latency 5 GHz Wi-Fi connection, with their Sub Mini only requiring a cable for power.

As a result of poor performance in the last quarter that saw sales in the Asia Pacific region which includes Australia fall by 7% to $26.7M the business has been forced to slash forecast growth from 15% to just $1% with global revenues tipped to be in the range of range of US $1.73-$1.755 billion.

By product category, revenues for Sonos’s speakers were $314.2 million.

Sonos’s system products revenues were $38.4 million, down 19.4%.

Partner products and other revenues totalled $19.2 million, down 7.7% year over year.