Sennheiser completes consumer business sale
- Details
The deal, which was first announced in May 2021, will see Sonova, a hearing aid specialist, operate its consumer hearing business under the Sennheiser brand umbrella under a long-term licence, taking over the German manufacturer’s consumer division fully.
Daniel Sennheiser, co-CEO of Sennheiser, comments: “In the future, we will focus our resources and financial strength on our Pro Audio, Business Communication, and Neumann business units. Here, we plan to grow at an above-average rate, further expand our position in the global market, and successively extend our business areas.
“We have transformed the company and - despite the pandemic - can look back on a very successful financial year: we were not only able to meet our sales targets for 2021 in all business areas, but even exceeded our own expectations despite the fact that the event industry in particular remained characterized by uncertainty for the second year in a row due to the COVID-19 pandemic.”
Andreas Sennheiser, co-CEO of Sennheiser, adds: “From now on, we are looking forward to working even more closely with our customers in the professional sector and being even closer to the market. This is where we will leverage all of our knowledge and extensive expertise as one of the world's leading companies in the audio industry.”
Describing the Sennheiser Group’s goals for the future, he adds: “As a family-owned company, we want to grow sustainably through our own efforts. To achieve this, we are investing significantly in our three business units."
In the pro audio unit, the audio specialist plans to expand its range with complementary software solutions for optimal workflows. Sennheiser has identified growth opportunities in the markets for semi-professional applications, such as audio-for-video.
In the business communications unit, Sennheiser is planning to expand its portfolio of audio solutions for universities and corporate meeting rooms. The goal is to be present with Sennheiser products in the majority of the world's lecture halls and meeting rooms and to offer customers solutions that are not only audibly better and easier to use, but in particular address the challenges of hybrid working and learning.
The Neumann.Berlin operation is to be expanded, with a strong focus on digital workflows and extended software and service solutions, as well as with new product offerings, e.g. for close mic’ing of instruments. Growth opportunities also arise from new customer requirements in the areas of mobile working, streaming, and immersive audio.
