Sennheiser plans to exclusively focus on its professional business and aims to secure a partnership to strengthen its market position in consumer electronics (translation: The company is looking for either a buyer of the consumer products division or an investment partner). With this decision, Sennheiser is consistently continuing on its course to build greater independence for its business units.
“In our Professional and Consumer Divisions, we have four Business Units in total: Pro Audio, Business Communications, Neumann and Consumer Electronics. In all of these areas we see great potential for growth. At the same time, they are characterized by different customer groups, customer requirements, product life cycles and market dynamics,” said Andreas Sennheiser, Co-CEO of Sennheiser.
“To be best able to exploit the potential in each of these markets, we are concentrating our own resources on the three business areas in the Professional division and are looking for a strong partner to invest in our Consumer business,” adds Daniel Sennheiser, Co-CEO of Sennheiser.
Sennheiser says talks with potential partners will start shortly.
The headphone market and the sound bar business in consumer electronics offer great growth potential — despite a highly dynamic market and strong competitive pressure. This is especially the case for the true wireless headphone market.
“Our products are known for the best sound and for delivering a unique sound experience. These crucial aspects are at the heart of the purchasing decision for our customers in the Premium Headphones, Enhanced Hearing, Audiophile and Soundbars segments,” said Daniel Sennheiser. “These are the strengths that we want to work with a partner to build upon.”
In parallel, it is important to increase visibility in the market in order to be able to achieve sustainable growth.
“Whether in the studio, concert hall, conference room or auditorium – in the Pro world, Sennheiser stands for a superior audio experience, the highest reliability and the best customer understanding,” said Andreas Sennheiser.
Here, the company plans to independently invest in its sound competence as well as in its market presence and visibility.
“All business units are to emerge strengthened from the planned repositioning. With a strong partner at our side to invest in our Consumer business, we will be even better equipped to play to our strengths – and to continue to bring the benefit of these strengths to our customers,” says Daniel Sennheiser. Andreas Sennheiser added. “For over 75 years, Sennheiser has stood for excellent technology and unique audio experiences. In doing so, we always focus on the needs of our customers. And we will continue to do so in the future.”