Sennheiser says it’s open to selling its consumer audio business

Sennheiser announced on Tuesday it’s on the lookout for a brand new associate to purchase its shopper audio enterprise, which consists of headphones and soundbars. It’s going to shift its focus totally to skilled audio, together with its Neumann microphone division and what Sennheiser calls enterprise communications.

In a press launch, Sennheiser says it needs to extend visibility within the aggressive headphone and soundbar markets, and it thinks its merchandise will be widespread amid “sturdy aggressive strain.” However it wants an investor to make that occur. It additionally says that talks with potential companions will begin quickly.

“To be finest in a position to exploit the potential in every of those markets, we’re concentrating our personal assets on the three enterprise areas within the Skilled division and are on the lookout for a powerful associate to spend money on our Client enterprise,” Daniel Sennheiser, co-CEO of Sennheiser, says within the press launch.

German publication Handelsblatt recently posted an interview with Daniel and fellow co-CEO Andreas Sennheiser, during which the 2 brothers level to various potential the explanation why Sennheiser is now exploring promoting its shopper enterprise. For one, the corporate was late to leap onboard with really wi-fi headphones, which have turn out to be a highly regarded audio {hardware} section. Whereas Sennheiser apparently had report gross sales in 2019 (€393 million, representing 52 % of its 2019 gross sales), it ended up barely destructive after taxes and curiosity.

Extra lately, headphone gross sales haven’t been pretty much as good as anticipated. Daniel Sennheiser mentioned through the summer season that “aggressive strain has elevated considerably,” and its revenue margins on the time had been “beneath strain.” It additionally minimize 650 jobs worldwide, leaving the corporate with round 2,800 staff presently.

Sennheiser’s press launch makes it appear to be the corporate is occupied with companions to fund its shopper audio enterprise, however it isn’t against promoting it off fully. The Sennheiser brothers instructed Handelsblatt that “all choices are open,” and that “it is very important us that every one enterprise areas emerge stronger from the realignment.”

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