Sonos, Inc. ( SONO Quick Quote SONO - Free Report) has unveiled an avant-garde, compact smart soundbar to take the entertainment quotient a notch higher. Dubbed Beam (Gen 2), the soundbar looks nearly identical to its predecessor and is equipped with Dolby Laboratories, Inc.’s ( DLB Quick Quote DLB - Free Report) Atmos technology that provides a richer, immersive listening experience for movies, TV, and music. As a leading consumer electronics company, Sonos capitalizes on evolving technology and entertainment trends to be on par with the audio consumption patterns of customers that are largely characterized by the rising adoption of voice assistants and streaming services. Packed with state-of-the-art features, the next-gen Beam soundbar is considered one of the top-selling soundbars in its category. Sonos’ shares have gained 159% compared with the industry’s growth of 42.3% in the past year. Image Source: Zacks Investment Research
The Beam (Gen 2) has a sleek design with a perforated polycarbonate grille instead of the cloth front found on the original Beam. Thanks to the incorporation of Dolby Atmos, the soundbar upgrades the fidelity and depth of audio with the highest clarity. It is compatible with HDMI eARC that facilitates new home theater audio formats. The device has more processing power and improved phased speaker arrays that localize sound around the room for a lifelike experience.
With NFC capabilities, the new Beam boasts hassle-free installation supported by seamless sync with the Sonos App, Apple AirPlay 2, music service apps, and TV remote. It can also connect to Sonos’ other speakers for multi-room playback and is compatible with more than 100 streaming services in the Sonos app. Apart from enhanced sound, the Beam (Gen 2) features sustainable packaging that includes a gift box made of 97% sustainable paper with no single-use foam. The Beam (Gen 2) soundbar is currently open for pre-orders on the company website with commercial availability commencing from Oct 5 for £449. Sonos intends to offer Amazon Music’s Ultra High-Definition audio and Dolby Atmos Music later this year. This will enable listeners to hear tracks in lossless audio up to 24-bit / 48kHz. Backed by these robust characteristics, the latest move is likely to boost the demand for Sonos’ high-end speakers in the growing global audio market, thereby providing a competitive edge over its rivals. Moving ahead, Sonos will remain focused on its three strategic initiatives — the expansion of its brand, increasing its offerings, and driving operational excellence. The Santa Barbara, CA-based company is well-positioned to benefit from its proprietary software backed by a comprehensive product portfolio. Expansion of direct-to-consumer initiatives and solid brand image with an extended partner ecosystem and geographical footprint are likely to propel its growth strategy in the long run. Zacks Rank & Other Stocks to Consider
Sonos sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the broader industry are Roku, Inc. ( ROKU Quick Quote ROKU - Free Report) and Panasonic Corporation ( PCRFY Quick Quote PCRFY - Free Report) . While Roku sports a Zacks Rank #1, Panasonic carries a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Roku delivered a trailing four-quarter earnings surprise of 506.1%, on average. Panasonic delivered a trailing four-quarter earnings surprise of 80.1%, on average.