Sonos is in a bit of a rough patch with its consumer hardware business. Demand isn’t nearly on the same level that it was a few years ago, and CEO Patrick Spence has used the word “challenging” more than once when discussing the company’s last several financial quarters. Today’s earnings, which saw revenue decrease by 5.5 percent year over year, are another example.
“While it was a challenging year in the categories in which we play, the strength of the Sonos brand and product portfolio enabled us to retain a strong market share position,” Spence said in Sonos’ press release.
But Spence and the Sonos team predict big things ahead in 2024. Namely, some sort of significant new product is on the roadmap for later next year that Sonos…
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