Sonos announced plans to expand into a new “multi-billion dollar” product category next year. Sonos CEO Patrick Spence declined to give specific details, but it’s widely expected to be headphones. He said the new product will “complement” current Sonos devices and will “delight customers and drive immediate revenue.” MacRumors reports: Spence said that Sonos believes it will generate more than $100 million from new products in 2024, and the new product will account for a “large portion” of this revenue in the second half of the year. There have been rumors for years now that Sonos intends to enter the headphone market with a pair of wireless headphones that could be similar in design to over-ear headphones like the AirPods Max.

Sonos has never confirmed its work on headphones, but a leaked internal memo that was obtained by Bloomberg earlier today confirmed that the company does indeed have a headphone division. […] Bloomberg in 2019 said that Sonos was targeting a $300 price point and was focusing on features like audio quality and multi-service interoperability, but it has been several years since new details emerged.