Audio products giant Sennheiser wants to sell its consumer headphones business. The company announced that it plans to focus on its professional business in the future and aims to secure a partnership to strengthen its market position in consumer electronics. Sennheiser said that it wants to increase its visibility in the competitive headphone and soundbar markets. The company believes that its products offer great growth potential despite a highly dynamic market and strong competitive pressure. However, it needs a partner to invest in its consumer business. The company will begin its talks with potential partners shortly. Let’s take a look at more details on Sennheiser’s announcement of selling its consumer business.
Sennheiser looking to sell its consumer audio business in the coming days
Sennheiser has announced that it plans to sell its consumer audio business. The company has four business units in total. These include the Pro Audio, Business Communications, Neumann and Consumer Electronics. It plans to focus on its professional business in the future and aims to secure a partnership to strengthen its market position in consumer electronics.
“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,” Daniel Sennheiser, Co-CEO of Sennheiser said. The company further stated that its products offer great growth potential despite a highly dynamic market and strong competitive pressure. It plans to get in talks with potential investors soon.
The company further said that a partnership for the consumer business will enable Sennheiser to place its focus and resources on strengthening its Pro Audio, Business Communications and Neumann business units. “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,” co-founder Daniel said.
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