French startup Devialet hopes to score big with smaller speakers By Reuters

0
511
© Reuters.  French startup Devialet hopes to score big with smaller speakers


© Reuters. French startup Devialet hopes to score big with smaller speakers

By Mathieu Rosemain and Gwénaëlle Barzic

PARIS (Reuters) – French startup firm Devialet, whose high-end speakers have won admirers from rapper Jay-Z to President Macron, unveiled a miniaturized version of its flagship product which it hopes will broaden its clientele in a competitive market.

Devialet is backed by Bernard Arnault, France’s richest man who is also the head of luxury goods company LVMH, and by Taiwanese electronic giant Foxconn.

It has raised more than $160 million since its foundation in 2007 but still has to turn out profits and find its place in an increasingly crowded global market where its rivals include Bang & Olufsen, Naim Audio and Sonos.

A co-branding partnership with the Paris Opera and the sale of its leading line of Phantom speakers in Apple (NASDAQ:) Stores have raised Devialet’s profile, built upon 160 patents and a sound system combining analog and digital technology.

Devialet hopes its new Phantom Reactor, four times smaller than the regular Phantom and which starts at 990 euros ($1,138), will appeal to customers who might have shied away from the flagship product, whose price ranges up to 2,500 euros.

“Our ambition is to provide the purest sound to as many people as possible,” said Franck Lebouchard, who replaced one of the company’s co-founders as chief executive earlier this year.

Lebouchard declined to provide any sales and financial targets for Devialet, which employs some 400 staff.

But the launch of the new device will be crucial, as Devialet’s speakers have been disappearing from Apple shops after the launch of the iPhone maker’s own new speaker, HomePod.

The Phantom Reactor, made in a factory in Fontainebleau south of Paris, will be available in Devialet’s 460 selling points worldwide, including in Singapore, Seoul and Hong Kong.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here