Sonos raises prices for many of its speakers amid the supply chain shortage.
The price hike is coming to a wide range of Sonos products, from $10 to $100. The Sonos Roam is receiving a modest $10 bump, while the Sonos Arc soundbar will cost $100 more. Sonos says the price increases are making good on a promise to investors.
During that earnings call, Sonos said supply and demand determine its strategy on raising prices. Sonos says it is always assessing market dynamics, including demand, supply chain, component costs, and the competitive landscape. The global chip shortage is affecting many sectors, making it hard to build new cars, game consoles, and even smart speakers.
The global chip shortage is impacting Sonos, forcing the premium speaker manufacturer to raise prices.
Sonos Speakers Price Increase – September 2021
Here’s a quick peek at the new prices for Sonos’ current product lineup. It’s worth noting that not every product saw a price hike. The Sonos Move, Port, and Boost SKUs will remain at the same price. The Sonos Arc saw the most expensive increase at $100 more compared to its launch price.
- One – was $199 (now $219) = +$20
- One SL – was $179 (now $199) = +$20
- Five – was $499 (now $549) = +$50
- Roam – was $169 (now $179) = +$10
- Move – was $399 (now $399) = $0
- Arc – was $799 (now $899) = +$100
- Sub – was $699 (now $749) = +$50
- Port – was $449 (now $449) = $0
- Amp – was $649 (now $699) = +$50
- Boost – was $99 (now $99) = $0
The global chip shortage is due largely to how consumer usage changed during the pandemic. Production was shut down for several weeks, but work from home skyrocketed across the world. Suddenly everyone is needing new laptops, printers, cameras, and consumer electronics. Even exercise equipment and deep freezers use electronic chips.
I wouldn’t be surprised to see Google and Amazon raise prices for their smart speakers, too. While they’re large enough to subsidize their hardware sales in the hopes of roping you into the ecosystem – the chip shortage is predicted to last through 2023.
There may be price increases across various sectors to absorb the new costs of producing complicated equipment. We’ve also seen prices rise among instrument makers like Fender. Fender saw reduced output per hour per man, which caused a price hike for its instruments and amps in February 2021.