Sonos has delayed the release of its next product – possibly the Sub Mini

After reporting blazing third-quarter earnings on Wednesday, Sonos announced that it has decided to push back a product launch that was originally slated for the foreseeable future. The product in question is almost certainly the long-awaited Sub Mini, a more affordable subwoofer that will join the company’s home theater lineup alongside the current $749 Sub.

The Sub Mini appeared at the FCC in June. If Sonos had followed its typical window of time between that filing and the consumer release, the product would have arrived relatively soon. But Sonos says that has now been delayed until the first fiscal quarter of 2023. “We always consider that kind of product and timing,” CEO Patrick Spence said on the call. “We are committed to launching two new products every year.”

Sonos spokesperson Erin Petegas confirmed the news. ledge In an email, “I can confirm that we have decided to move forward an anticipated product launch from Q4 ’22 to Q1 ’23.” It will keep its rescheduled arrival sometime between October and December.

Sonos’ third-quarter earnings were well below the mark of the company’s revenue expectations. Spence said in the company’s earnings release, “We have observed that starting in June, the macroeconomic backdrop has become significantly more challenging for us as dollar appreciation and higher inflation have adversely impacted consumer sentiment globally, particularly those In the categories in which we play.”

During a call Wednesday afternoon, outgoing CFO Brittany Bagley said Sonos is currently holding on to more inventory than it wants and faces a “challenging Q4.” The company pointed to softer demand for the $179 Sonos Ray soundbar as a reason for the decrease in its revenue. But Sonos partly attributed this to a slowdown in TV sales, and the company expressed optimism that the Ray would eventually prove very successful as its entry-level soundbar, thanks to positive reviews and its attractive pricing.

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