'Later This Year We Plan to Raise Prices' Says Sonos – and Yes, It's a Response to US Tariffs
VIETNAM AND MALAYSIA, AUG 6 – New tariffs of 20% on Vietnam and 19% on Malaysia will raise Sonos hardware costs, impacting prices for US consumers later this year, the company said.
- According to its earnings report, Sonos plans to raise hardware prices later this year due to tariffs on Vietnam and Malaysia.
- Sonos sources all US-bound manufacturing in Vietnam and Malaysia, which faced 20% and 19% tariffs last week, according to Sonos.
- To offset rising tariffs, Sonos is working with contract manufacturers and Channel Partners to share tariff costs and will monitor consumer behavior closely.
- Currently, the exact products and hike extents remain unrevealed, according to Sonos, but planned increases could push products further into the high-end bracket.
- Alongside tariff pressures, Sonos hasn't released a product since October due to last year's mobile app disaster and CEO Tom Conrad cites the uncertain tariff environment as its main challenge.
Insights by Ground AI
Does this summary seem wrong?
21 Articles
21 Articles
Sonos confirms tariffs will increase its prices this year
Tom Conrad took over as CEO of Sonos in January as it continues to recover from last year’s disastrous mobile app update, and now the company has issued its first quarterly earnings report after he dropped the interim tag from his title. Beyond the numbers, with $344.8 million in revenue and a net loss of $3.4 million, Conrad acknowledged the impact that President Trump’s tariffs will have on its business, saying that “it has become clear that w…
·United States
Read Full ArticleCoverage Details
Total News Sources21
Leaning Left5Leaning Right0Center4Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 44%
Factuality
To view factuality data please Upgrade to Premium