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3d ago

Sonos to Raise Product Prices Later This Year Over U.S. Tariffs

The move aims to recoup an expected $5 million in fourth-quarter costs from 20 percent duties on Vietnamese imports complemented by similar levies on Malaysian goods.

© Victoria Song / Gizmodo
A couple uses Sonos' Arc Ultra soundbar and Sub 4 subwoofer.
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Overview

  • Sonos confirmed it will increase U.S. retail prices later this year to offset 20 percent tariffs on Vietnamese manufacturing and 19 percent duties on Malaysian goods.
  • Tariffs cost the company $2.1 million in the third quarter and are forecast to impose roughly $5 million more in Q4 levies during the holiday shopping season.
  • The Q3 report showed $344.8 million in revenue and a $3.4 million net loss, underscoring the financial pressure from the new trade measures.
  • Sonos is collaborating with contract manufacturers and channel partners to share tariff burdens and refine its pricing plan for different products.
  • The company is leveraging production flexibility between its Vietnam and Malaysian facilities and accelerating geographic expansion to diversify its supply chain.