Sennheiser’s consumer business now part of Sonova Holding AG

In what may be called the change of ownership, Sennheiser Consumer business is now officially part of Sonova Holding AG. They will now operate under the Sennheiser brand umbrella and provide Sennheiser customers with best-in-class audio solutions, it said. Sonova’s acquisition of the Sennheiser Consumer business puts it in a very strong position to lead the market, as per reports.

Martin Grieder, Sonova GVP Consumer Hearing, said that Sennheiser and Sonova share many values and will leverage various complementary strengths. “Both brands have a passion and dedication to high-quality audio with innovation at the heart of the business,” said Grieder.

As part of the agreement, the new company will continue to focus on audiophile headphones, enhanced hearing and sound bars as part of its four key product segments. Sonova has already announced a couple of innovative new audio products coming later this year.

In an official press release, Sonova Consumer Hearing said that it has doubled down on its investment into audiophile headphones following the recently launched award-winning IE headphone series, with many more exciting products to come.

It must be noted that the premium category headphone market is currently valued at nearly USD 20 billion and is projected to grow three times to USD 60 billion in the next seven years. This growth will reportedly be bolstered by smartphone attachment as at present merely about 20% of smartphone users have true wireless headphones.

Also Read: Galaxy S22 Ultra vs Galaxy S21 Ultra: Which Samsung phone is better?