![]() ![]() In addition to new product launches, (Sonos) frequently introduces new features through software upgrades, providing (its) customers with enhanced functionality and improved sound in the home. (Sonos) launched (its) first voice-enabled wireless speaker, Sonos One, in October 2017, and (its) first voice-enabled home theater speaker, Sonos Beam, in July 2018. Today, (its) products include wireless speakers, home theater speakers and components to address consumers' evolving home audio needs. (Sonos) debuted the world's first wireless multi-room home sound system in 2005, and has since been a leading innovator in wireless home audio. Here's more information on where Sonos operates in the home entertainment market. From what I can tell (as an average consumer), however, Sonos has a fantastic product suite, and I think customers continue to enjoy its products. streaming) that could impact demand for its products. There are also various ways to deliver entertainment (i.e. ![]() It's hard not to like Sonos' market opportunity, but the home sound system market for consumers is one that is overflowing with competitive participants (and barriers to entry aren't that high). The company went public in 2018 and its mission is " to fill every home with music," inevitably leading to the creation of the wireless multi-room home audio system. When it comes to stock analyst coverage, Sonos is a relatively undiscovered company. Image Source: Sonos' S-1 (SEC) But Is the Company's Trajectory Sustainable? That said, I tend to view myself as a late adopter, and the floor space afforded to Sonos at Best Buy speaks to that. I must say, thus far, Sonos seems to have hit the ball out of the park. Well, on the two Sonos Ones, I was, and the sound was awesome as it echoed throughout the house. You see - I've had these Bose and Harmon Kardon speakers that I can hook up with my Bluetooth, but the problem that I encountered at my annual Christmas party was that I wasn't able to play both speakers through Bluetooth at the same time. Sonos, as it relates to my situation, solved a very unique problem. I love them so far and I hope to add more to the home audio system. Needless to say, our household was bombarded with some awesome technology of Amazon and Sonos all at once. The next morning, my seven-year-old son was up early talking to Alexa and he managed to get her to play the soundtrack of PJ Masks and the Star Wars theme song. After inquiring about the weather and seeing if she had heard about my new book Value Trap: Theory of Universal Valuation, which is on Amazon (she hadn't, which was quite the blow to the ego, but that's okay), I was listening to Frank Sinatra. After downloading the app and doing some pretty cool configuration stuff, both were plugged into the wall and ready to go. I was told they both came with Amazon's ( AMZN) Alexa, and I couldn't wait to tell them to play my Frank Sinatra playlist. ![]() I ended up buying two of the Sonos Ones, and I was on my way back home in a hurry to try them out. As I am not the most tech-savvy individual, I asked a Best Buy employee to explain all of what I was looking at, and I came away impressed. ![]() Last week, I had some time to kill, so I did my usual channel checks at the neighborhood Best Buy ( BBY), and I must say, I was impressed with the floor space afforded to home audio equipment maker Sonos ( NASDAQ: SONO). By Brian Nelson, CFA Sonos Solves a Critical Home Audio Problem ![]()
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