Sennheiser wants out of the consumer headphone and speaker markets
Sennheiser has revealed that its consumer electronics division is available to purchase. Apparently, the company hopes to sell its headphones and soundbars business to an investor or a partner. In future, Sennheiser intends to focus primarily on its Pro Audio, Business Communications and Neumann divisions.
In a press release, the company claims that its Consumer Electronics business has enormous growth potential, despite pressure in the headphones and soundbar markets. Apparently, an investor is necessary for the division to reach its potential. Talks with potential investors are expected to begin soon.
Recently, Daniel and Andreas Sennheiser hinted to Handelsblatt that the company entered the true wireless earbud (TWS) market too late to establish a foothold. While earbuds like the Momentum True Wireless 2 were well received, they have been unable to compete with the popularity of the Apple AirPods series.
Underlining this is that the company has also cut approximately 19% of its workforce globally. If Sennheiser cannot find an investor for its headphone and speaker business, then it will consider selling it entirely. It seems that talks remain at an early stage though, so it may take a while before Sennheiser announces any changes.