Sonos to Increase Prices Due to Tariffs
Sonos plans to raise prices for some of its products later this year because of tariff costs, the company said in its third fiscal quarter earnings presentation [PDF].
Sonos manufactures its devices in Vietnam and Malaysia, and the countries are facing tariffs of 20 percent and 19 percent, respectively. In the third fiscal quarter, tariffs cost Sonos $2.1 million, and the company estimated that costs would increase to $5 million in the fourth fiscal quarter of 2025. Sonos said that the estimate for 4Q 2025 reflects the prior 10 percent tariff rate on in-transit inventory that will arrive during the quarter, and future quarters "may differ."
To minimize the impact of tariffs, Sonos says that it will raise prices across its portfolio of products. Sonos also plans to invest in diversifying its geographic footprint to drive growth in the future.
Sonos did not outline which products will see price hikes, but said that the increases will come later in 2025.
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