Could Cupertino Save Struggling Sonos? Speculation About Apple Bid Abounds

Peter Orvetti

January 19, 2025

Sonos Inc. (NASDAQ:SONO) is grappling with the most severe crisis in its history in the aftermath of a catastrophic software rollout last year. Bloomberg columnist Mark Gurman says that several tech giants could potentially save the digital speaker company, with most speculation centering on a possible acquisition by Apple Inc. (NASDAQ:AAPL).

What Happened: In his latest Power On newsletter, Gurman writes that Sonos launched a revamped app last May that was intended to refresh the Sonos experience and pave the way for new products. However, the app was riddled with bugs and missing key features, leading to significant user dissatisfaction and tarnishing the brand’s image.

Six months post the app’s launch, the company bid farewell to CEO Patrick Spence and its chief product officer. Tom Conrad, Pandora’s co-creator and a former executive at Snap Inc., has stepped in as the interim CEO.

With Sonos’ market valuation plummeting to approximately $1.7 billion from over $5 billion, the board is contemplating whether selling the company might be a feasible solution. Apple, given its similar emphasis on premium design and audio technology, is viewed as a potential buyer.

Other possible buyers include:

Amazon.com Inc. (NASDAQ:AMZN), which Gurman says “seems like the most natural fit,”
Samsung Electronics Co. (KRX: 005930), a possible “wild card,”
Roku Inc. (NASDAQ:ROKU), though it “would probably face antitrust concerns,” and
Spotify Technology SA (NYSE:SPOT), which “has long wanted to get into hardware but struggled to make it happen.”

Despite the rumors, many within Sonos are of the opinion that Conrad may become the permanent CEO if he is open to accepting the role.

Why It Matters: The turmoil at Sonos began with the departure of CEO Patrick Spence. The company’s shares took a hit following the announcement of the CEO transition.

The subsequent software debacle further eroded the company’s market value, leading to the current speculation about a potential sale.

The outcome of this crisis could significantly impact the future of Sonos and its stakeholders.

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