It looks like Sonos Inc (NASDAQ:SONO) may be trying to shake up the headset market after the company reportedly joined forces with a bluetooth audio software company developing next-gen products.
What Happened: According to a Protocol report citing a Sonos spokesperson, Sonos acquired bluetooth audio startup T2 Software in November 2021. "Occasionally, we will acquire teams, talent, and/or technology that augment our existing and future product roadmap," the spokesperson told Protocol.
T2 Software has been working on rollouts of Bluetooth LE Audio and LC3 codec, which offers higher-quality audio over bluetooth with improved battery usage.
Why It Matters: The acquisition has intensified rumors that Sonos may be developing its own bluetooth headphones.
A recent post on Microsoft Corp's (NASDAQ:MSFT) LinkedIn platform from Sonos VP of global marketing and communications Pete Pedersen suggests that the company may be planning to launch its own headphones soon.
"Sonos is looking to partner with a thoughtful, creative and innovative integrated marketing firm for one of the most ambitious projects in our history," Pedersen said in the post.
If Sonos is able to deliver a headphone product with higher audio quality and longer battery life than comparable options, it could take market share from its competitors.
Sonos headphones would likely compete with high-end headphones from competitors like Bose, Sony Group Corp (NYSE:SONY) and Apple Inc (NASDAQ:AAPL).
SONO Price Action: Sonos has traded as low as $91.74 and as high as $133.75 over a 52-week period.
The stock was up 0.3% at $112 at time of publication.
Photo courtesy of Sonos.
