Investing.com -- Sonos (NASDAQ:SONO), a renowned audio products manufacturer, has decided to halt its plans to launch a video streaming player this year, according to The Verge. The company’s leadership made the announcement during a company-wide call. The device, internally referred to as ’Pinewood’, was intended to be Sonos’ next significant hardware release.
The Pinewood project was well into its development phase, with the product having undergone months of beta testing. However, the team responsible for the project will now be redirected to other assignments. This decision comes as interim CEO Tom Conrad is reevaluating the company’s future strategy following a challenging 2024.
During the announcement, Conrad informed the staff that Sonos’ venture into the video space is currently off the table. However, he left the door open for a possible return to the idea in the future by adding the qualifier "for now."
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