From PC Mag: If you've been eyeing a Sonos speaker, now might be a good time to buy. In its latest earnings report, the company has announced plans to raise prices across its product range later this year.
The price hikes, as Bloomberg reports, are in response to incoming reciprocal tariffs on Vietnam and Malaysia. These countries manufacture most US-bound Sonos products, and they were hit with 20% and 19% tariffs, respectively, last week.
Sonos also relies on China for a few accessories, such as speaker stands and Sonance co-branded products, but they "are a very small part of our total business," the company says in its earnings report.
The exact names of impacted products or the extent of the hike are yet to be revealed. Sonos products are already priced at a premium, and the planned hikes might just push them further up the high-end bracket.
"I think the best way to think about what we're trying to do here strategically is to craft a pricing plan that supports our goal of optimizing growth profit dollars," CEO Tom Conrad said, while responding to an analyst's question.
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