The 75-year old Sennheiser brand many are familiar with in the headphone world probably isn’t going away. However, the company is seeking investors to strengthen the consumer division, building on the strength of their sound quality. At this time it’s not clear what a partnership might entail, but we’d expect to know more within 3-6 months.
In today’s press release, Sennheiser announced plans to focus on its Professional business in the future while aiming to secure a partnership to strengthen its market position in Consumer Electronics. With this decision, Sennheiser continues 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. 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.”Andreas Sennheiser, Co-CEO of Sennheiser
Strengthen the market position and increase visibility in the Consumer business
The headphone market and the soundbar 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. These are the strengths that we want to work with a partner to build upon.” Daniel Sennheiser, Co-CEO
Focus on development of Professional business
A partnership for the Consumer business enables Sennheiser to free up resources to focus on strengthening its Pro Audio, Business Communications and Neumann business units. This will enable Sennheiser to continue to grow at an above-average rate and to expand its strong position in the global market. The business communications market in particular offers significant opportunities for growth that Sennheiser intends to capture.
Repositioning for a successful future
“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.” Daniel Sennheiser, Co-CEO
“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.”
Andreas Sennheiser, Co-CEO
About Sennheiser
Shaping the future of audio and creating unique sound experiences for customers – this aim unites Sennheiser employees and partners worldwide. Founded in 1945, Sennheiser is one of the world’s leading manufacturers of headphones, loudspeakers, microphones and wireless transmission systems. Since 2013, Sennheiser has been managed by Daniel Sennheiser and Dr. Andreas Sennheiser, the third generation of the family to run the company. In 2019, the Sennheiser Group generated turnover totaling €756.7 million. www.sennheiser.com
