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Something to look forward to: Sonos currently specializes in only one area — speakers. However, the company has revealed that it wants to diversify starting next year. While it didn't say what it wants to do next, previous announcements and job postings could offer some hints.
In a fourth-quarter earnings call this week, the CEO of Sonos revealed that the company plans to expand into four new product categories soon. He said the company will introduce the first of these in the 2023 fiscal year but disclosed no further details.
Company head Patrick Spence said Sonos wants to move into product categories "naturally adjacent" to its current forte — speakers. It also wants to expand to new markets like Japan, India, and Latin America. Spence touted Sono's track record of increasing its market share when entering new categories.
"Entering new categories will further diversify our business," he said.
Headphones are probably the most apparent new area for the speaker company. Bloomberg reported Sonos's intended entrance into that space in 2019, but its planned over-the-year headphones have yet to enter the market. A pair of Sonos headphones would be a natural addition to the company's whole-home audio systems and audio sync software.
One of Sonos's upcoming products or services could be software-based. The company already has a music streaming service and an app for syncing audio across speakers. In March, Protocol wrote that Sonos is hiring staff, including developers with Android experience, to work in UX for a "Home Theater OS." The role would involve delivering content across phones, TVs, and tablets. The listing also mentioned a hardware remote.
Sonos could be looking to expand its existing audio services onto more devices, or it could be planning to move into video streaming — its first attempt to step outside its audio-related comfort zone.
Any future hardware from Sonos will likely involve technology from its recent acquisition, Mayht Holding BV. Mayht's audio transducer technology should help Sonos pack higher-quality sound into more compact speakers in various settings like desks, cars, and portable.
Much news regarding Sonos has involved its long-running legal battle with Google. After the two companies cooperated over a decade ago, Sonos accused Google of using its technology as a springboard for its popular smart speakers. The pair have traded lawsuits over patents ever since.