Sennheiser, a well-known German brand of quality hearing enthusiasts, has announced that it is selling its consumer products division to Sonova in Switzerland. The latter company is known in the market for hearing aid products and implants that help people with hearing impairments. It is unclear how this transaction will affect Sennheiser products in the long run, but for the foreseeable future, Sonova will continue to sell the German brand’s products.
Sonova will continue to produce and sell Sennheiser products
It seems that Sennheiser has had financial problems in recent years, caused by competition in the audio equipment market. Almost two years ago, the company laid off 650 employees, after not making a profit in 2019, despite the record sales that the company had. Sonova thus takes over Sennheiser’s consumer products division and will continue to offer the German brand’s products in stores.
Although Sonova does not generally sell wired or wireless headphones, soundbars or other such products, it is still in the audio field and will likely use the technologies developed by Sennheiser to improve its portfolio of hearing aids over time. what its technologies developed for medical purposes could be used to improve Sennheiser equipment.
“Combining audio expertise with Sennheiser’s experience in sound playback, along with its reputation as a manufacturer of high-quality equipment, will allow us to expand our offering and make new connections with customers earlier in their listening journey.” , said Sonova CEO Arnd Kaldowski.
The transaction is worth 200 million euros, but approval from the authorities is needed. Most likely, it will be completed in the second half of the year, according to Sonova representatives.