Due to tariffs, Sonos will have to raise their prices on certain products in its portfolio this year. Malaysia and Vietnam, places where Sonos manufacture products, will be affected by the tariff raises ordered by Donald Trump. These countries will be facing an increase of 19% and 20%. The company has estimated that due to tariffs costs would rise up to $2.1 million by the 3rd fiscal quarter and $5 million by the 4th quarter of this year.
Raises on Sonos products will be made to lessen the impact made by the tariffs and plans of expanding their footprint geographically for their future growth.
As of now there is no information on what products will see an increase in their prices, and how much it would be, but it will be implemented later this year. This has been discussed by the company during the presentation of the third quarter revenue earnings.
