Sennheiser shifts focus as its intentions focus entirely on the professional audio market, with products such as the Neumann microphones and for business communication.
Sennheiser shifts focus
In the press release, the company states that it wants to increase its findability in the competitive market for sound bars and headphones, and believes that its products can score well. But that requires extra money and an investment, otherwise those goals cannot be achieved. The talks with the first potential partners quickly follow.
An interview was previously published in German Handelsblatt with Daniel Sennheiser, co-CEO, and Andreas Sennheiser, the other CEO of the company. In that interview, the brothers talk about the possible reasons why this move is necessary now. For example, the company entered the market quite late wireless earplugs, a market that has grown enormously in recent months.
However, sales of the earplugs have recently been disappointing due to the increasing pressure on the market. This put pressure on the profit margin, among other things. This resulted, among other things, in the having to let go of 650 employees worldwide, leaving 2,800.
The press release indicates that the company first wants to try to retain the consumer audio branch by seeking partners who want to invest. But selling the branch is always a good option. All options are currently open.
Read more about Sennheiser products here.