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.
"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.
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