Sennheiser has sold off its consumer electronics division, which includes the company's portfolio of excellent headphones. In a deal worth €200 million, Swiss company, Sonova, will now own Sennheiser's consumer electronics division.
Sennheiser began looking to sell its consumer electronics division back in February due to competitive pressure. As pointed out by The Verge, Sennheiser saw record sales in 2019, but due to dwindling profit margins, the company still lost money on its consumer electronics division.
Sonova, a Swiss company best known for medical audio products like hearing aids, will now be taking over Sennheiser's consumer electronics division. In a statement, Andreas and Daniel Sennheiser explained that they will now be turning their attention to Pro Audio, digital services and business communications. Meanwhile, Sonova will be adding headphones, sound bars and other audio products to its line-up.
The deal is still subject to regulatory approval, but everything is expected to close in the second half of this year. Discuss on our Facebook page, HERE.
KitGuru Says: I've been a fan of Sennheiser headphones for a while now. Hopefully they will continue to be available in the years to come, even under new ownership.