Sennheiser is repositioning its business to focus on the professional division and is seeking a partner to invest in its consumer division, in a bid to build greater independence for its business units.
Across its professional and consumer divisions, Sennheiser has four business units – pro audio, business communications, Neumann and consumer electronics.
Sennheiser co-CEO, Andreas Sennheiser said there is potential for growth in all areas, but they are characterised by different customer groups and requirements, as well as varying product life cycles and market dynamics.
Sennheiser co-CEO, Daniel Sennheiser explained: “To best 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. Talks with potential partners will start shortly.”
In the consumer electronics business, headphones and soundbars offer the biggest growth potential, despite a highly dynamic market and strong competitive pressure, particularly for the true wireless headphone market, according to Sennheiser.
“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 said.
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. The audio specialist plans to independently invest in its sound competence, market presence and visibility to grow and expand its position in the global market.
“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. 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,” the co-CEOs said.