It goes without saying that the COVID-19 pandemic has hit businesses hard, even the large ones. We’ve seen Nikon making adjustments as a result. Sennheiser is also making a few of its own now, and they sound a lot more drastic. Because the adjustment involves selling off its consumer side of the business.
In its statement, Sennheiser says that it is looking to “secure a partnership” for its consumer side of things. The company plans to focus on its professional side of things, which involves its business communications and Neumann microphones. This means that Sennheiser will continue taking care of its studio and concert hall business.
According to German publication Handelsblatt, part of the reason why Sennheiser is looking to sell its consumer side of things is because it was late to the TWS party. This meant that the company failed to carve out a satisfactory share in the market. On top of that, headphone sales has not been performing as the company hoped.
And while the official Sennheiser press release says it is looking for partners for its consumer business, it’s not opposed to selling it off completely. The Handelsblatt interview with the two Co-CEO brothers had indicated “all options are open”.