Sonos is having a tough time with its consumer hardware business. CEO Patrick Spence talks about how challenging the last few financial quarters have been. The company’s revenue decreased by 5.5 percent year over year. But Spence and the Sonos team are optimistic about big things in 2024. They are planning to introduce a significant new product. It could be the long-rumored Sonos headphones, which seems to have been leaked in an internal email from Chief Product Officer Maxime Bouvat-Merlin. Spence mentioned that they expect to generate over $100 million from new product introductions this year. This suggests that a new product will account for a large portion of this revenue in the second half of the year. Sonos is also planning to enter the headphone and earbud market, and they might finally make use of their acquisition of Mayht, a startup with an innovative approach to speaker transducers. Last year, Spence announced that Sonos would be entering four new product categories over the coming years. The first one, Sonos Pro, ended up being commercially focused. They are also considering new in-home audio products and possibly revising the Sonos Five in the next couple of years.
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