So far there's no clue as to what kind of products the two companies will make.More news: FY2017 EPS Estimates for Golar LNG Partners LP Reduced by Analyst (GMLP)
The collaboration is a little unexpected, since Sonos is considered a premium brand and Ikea is budget home furnishing Plus Sonos is very limited in their product line - they sell exactly 9 products, meaning even a small collaboration with Ikea could potentially double the amount of products they make.
"Together with Sonos we want to democratise music and sound in the home, and we want to create products designed for how people listen together at home", he noted.More news: Kate Middleton Wears Princess Diana's Tiara to The Queen's Winter Party
IKEA has been trying to inch in on the high-tech markets that have begun trickling down to the DIY market, and this is just the third step in that plan.
"At IKEA we strive to make solutions for life at home by integrating technology into our home furnishing offer that are easy to use and affordable, thereby making smart home technology accessible to the many people", said Björn Block of IKEA's smart home division. Enabling people to create the right atmosphere in their home with great design, music and sound. However, it's possible that Sonos could produce an Ikea-exclusive product - perhaps a speaker that's priced below the current entry-level $200 Sonos One. As part of the latter, Ikea also introduced a smart home hub, which could easily be extended to work with existing as well as upcoming Sonos products.More news: Analyst Opinion Summary: Hibbett Sports, Inc. (HIBB), Express Scripts Holding Company (ESRX)
"At Sonos we understand the transformational power of music in the home", says Patrick Spence, CEO at Sonos.
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