French startup Devialet hopes to score big with smaller speakers

Latest news

    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 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.

    View the original article: http://feeds.reuters.com/~r/reuters/technologyNews/~3/4NYN3IH1pos/french-startup-devialet-hopes-to-score-big-with-smaller-speakers-idUSKCN1MJ0O2

    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.

    Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by Sudip Kar-Gupta

    In the same category are

    Fintech making inroads, but U.S. bank revenues little changed: report NEW YORK (Reuters) - Financial technology startups and other new entrants are making inroads in the U.S. banking market, but have yet to capture a thr...
    Realpage settles U.S. charges over tenant screening reports (Reuters) - Realpage Inc, which provides technology to the real estate industry, agreed to pay $3 million to settle charges that its tenant screening ...
    OnDeck launches new subsidiary to partner with banks NEW YORK (Reuters) - OnDeck Capital Inc has set up a subsidiary that will provide technology and other services to banks looking to lend to small busi...
    ST Engineering wins $5.5 million Singapore contract to test smart lamp-posts SINGAPORE (Reuters) - Singapore Technologies Engineering has won a S$7.5 million ($5.5 million) contract for the trial of a smart lamp-post project in...
    Ubisoft shares rise to beat market sell-off after good sales for video game PARIS (Reuters) - Shares in French video games maker Ubisoft rose by around 1 percent on Thursday, making them one of the few stocks to rise despite a...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.