The iconic German audio company Sennheiser is looking to sell its consumer business, the company revealed in a press release. The company says that in the future, it wishes to focus solely on its Professional division and is thus seeking a partner to invest in its consumer business.
“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. 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”
The Consumer Division offers a wide range of wireless and wired headphones as well as home entertainment speakers and soundbars. Meanwhile, the Professional Division mainly focuses on audio gear used by musicians, broadcasters, commercial pilots, and filmmakers.
Sennheiser says talks with potential partners will start shortly, and it’s keeping all options open, including a complete sale of the consumer division. Staff was notified about the decision on Tuesday. Sennheiser says it sees great potential for growth in the consumer audio space, but to fully capitalize on these opportunities and to increase its brand visibility among consumers, it will need the help of a partner.
“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,” said Daniel Sennheiser in a statement.
Sennheiser is a family-owned business run by two brothers, Daniel Sennheiser and Andreas Sennheiser.
The efforts to reposition the consumer and professional divisions have been going on for the past few years, as revealed by co-CEO Andreas Sennheiser in a recent interview with German publication Handelsblatt.
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source https://www.xda-developers.com/sennheiser-open-selling-consumer-audio-business/