Sennheiser will focus in the future mainly on professional audio equipment. In an interview, the leaders of the German brand say they are ready to consider all the options for its consumer activities, but also suggest a sale.
« Sennheiser reposition its business units independently of each other “Is the fairly explicit title of the press release shared by Sennheiser on February 16. The group’s objective is now to concentrate on the sale of professional audio equipment, while focusing on its Neumann division and its Communications branch. To do this, the Teutonic firm initially wishes to detach its various activities from one another to make them into independent divisions. The short-term goal is simple: to manage to separate at least in part from a consumer division whose profitability is not in good shape.
In this regard, the executives of Sennheiser say in an interview “ open to all options “. In his press release, Daniel Sennheiser, co-CEO of the group, explains that the company’s resources will now be focused on “The three sectors of activity of the professional division”,and adds himself ” look for a solid partner willing to invest in our division grand public ».
Sennheiser took the turn to true wireless too late
For Sennheiser, welcoming a partner for the industry Consumerwould improve its visibility and competitiveness in the soundbars and headphones market, despite “strong momentum and intense competitive pressures“. The brand also claims “products renowned for their incomparable sound and the unique audio experience they provide“And ensures that its general public division”has strong growth potential“. Enabling this branch to grow in a crowded market will be an important issue for the partner wanted by Sennheiser… or for a future buyer.
As pointed outThe Verge, the consumer division of Sennheiser is currently facing difficulties, with a negative balance sheet despite significant sales in 2019 (for a revenue of 393 million dollars, we read). In an interview with the German media Handelsblatt, Daniel and Andreas Sennheiser, the two co-CEOs of Sennheiser, agree in particular in admitting that their company took the turn too late.true wireless. A late arrival in this ultra popular segment which combines with less good than expected sales for the latest consumer headphones from the firm, but also a “competitive pressure which has increased considerably this summer», Explains Daniel Sennheiser.
Interesting fact: if the press release sent to us by the brand above all expresses its desire to find an investor, its two executives, for their part, let Handelsblatt hear that a sale of the consumer division is possible, adding that it is important to them that “all sectors of activity emerge strengthened from this readjustment“. Recently, Sennheiser was forced to cut 650 jobs around the world to limit its workforce to 2,800 employees in total.