Sennheiser announced today that it is looking for a buyer or partner for its consumer audio business. The German company is widely known for its soundbars and headphones. But Sennheiser itself is no longer happy with this area of business, and is going to focus on the development and manufacture of purely professional equipment, including Neumann microphones, and on what it calls business communications.
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In an official press release, the company stated that the visibility of its soundbars and headphones in the market needs to increase in the face of increasing competitive pressure. But this requires an investor. The company says it is ready to start negotiations with potential buyers.
Sennheiser’s CEOs said the company has a number of reasons to sell or at least reorganize its consumer business. It was late with the release of the all-wireless earbuds, which have gained immense popularity, negatively impacting revenues. As a result, Sennheiser was already forced to lay off 650 employees, leaving about 2,800 people on the staff. In addition, the prospects do not look too rosy – the company is clearly losing to numerous competitors in the headphone market and is experiencing a continuing decline in sales.
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The press release gives the impression that Sennheiser is more interested in partnerships to co-finance the consumer business rather than selling it out. But company executives, brothers Daniel and Andreas Sennheiser, say they are open to all proposals, and that it is important for them that as a result of the reorganization, all areas of the business become stronger.
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