By Javed Farooqui
Copyright indiatimes
US-based audio technology company Sonos is sharpening its focus on India, calling it one of its fastest-growing markets in Asia-Pacific, even as its global revenue declined in fiscal 2024.“APAC is Sonos’ growth frontier, with India emerging as one of its fastest-growing markets,” said Rennie Addabbo, General Manager for Sonos APAC. “Premium demand is clear: India ranks among our highest attach rates globally, with customers investing in full-system installs and our most premium products. Rising home ownership is further driving demand for installed solutions, with over half our business coming through this channel.”Sonos’ global revenue fell 8.3% year-on-year to $1.5 billion in FY24, hit by weaker demand across regions and challenges from a new app rollout.In India, the company has expanded distribution to 75 retail outlets, opened its first luxury experience centre at The White Crow in Mumbai, and launched Sonos Sound Suites, a listening series designed to blend traditional influences with modern sound and tap into India’s music culture.The company has also diversified production across Asia, with facilities in Malaysia and Vietnam, though India is not part of its manufacturing plans yet.Live EventsInstead, the immediate focus is on widening availability and awareness, supported by partnerships that localise the brand through its API platform and Works with Sonos program. These allow Indian entertainment services and home automation partners to integrate seamlessly with its products.“Early success shows we’ve found an Indian customer who resonates with Sonos,” Addabbo said. “Increasingly, they want integrated systems over standalone speakers. Ecosystems that evolve with their lifestyle play to Sonos’ greatest strength as pioneers of wireless multi-room audio.”According to market researcher GfK India, the Indian audio devices market in offline retail was valued at Rs 5,000 crore as of September 2024. The home audio segment, worth Rs 1,600 crore, grew 6% year-on-year till June 2024.But audio home systems, including compact stereo systems, smart audio, and home theatre, declined 11% in volume, with compact stereo systems contributing 90% of sales.Sonos faces competition from premium audio brands such as Bose, Sony, and Harman, besides smart speaker devices from Google and Amazon.“Ultimately, we’ll stay true to what Sonos does best: beautiful design, effortless control, and great sound that delivers a seamless entertainment experience in the home,” Addabbo said.Add as a Reliable and Trusted News Source Add Now!
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