Sennheiser to spin out its consumer audio business
The company has three professional divisions covering Pro Audio, Business Communications, and the Berlin-based Neumann microphone business. “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,” said Andreas Sennheiser, Co-CEO of Sennheiser.
“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,” said brother Daniel Sennheiser, the other co-CEO. Both brothers are grandsons of the founder, Prof Fritz Sennheiser.
The company is looking for a partner to take over the headphone and soundbar business in the Consumer Electronics division, and talks will start shortly.
“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,” said Daniel Sennheiser. “These are the strengths that we want to work with a partner to build upon.”
The company says it is important to increase visibility in the market in order to be able to achieve sustainable growth. This highlights the need for a significantly higher marketing investment for the consumer business, which implies a company such as Sony or Samsung as a target partner.
The partnership would fund investment in its professional sound competence as well as in its market presence and visibility.
“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,” said Daniel Sennheiser.
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