Apple is striving to widen production and enrich the choice for its customers amid the pandemic. Meanwhile, last month the company stopped selling third-party sound products.
American giant tech company, Apple Inc (NASDAQ: AAPL) has stopped selling third-party earphones and headphones through its physical and online stores. According to Bloomberg, the company is working on its first over-ear headphones, the smaller HomePod. As a result, Products from Sonos, Bose, Logitech will no longer be available for sale from its stores.
Notably, shares of Sonos Inc (NASDAQ: SONO) were down approximately 2.5% during Tuesday’s premarket, to trade around $15.25. SONO stock closed Monday’s trading session up 0.90% from the days open. On the other hand, shares of Apple Inc were down approximately 0.64% during Tuesday’s pre-market to trade around $115.75. However, during Monday’s trading session, they jumped 3.08%, presumably on the news.
Notably, all headphones and speakers from Bose, speakers from Logitech’s Ultimate Ears brand and Sonos’ latest smart speaker disappeared from Apple’s online store at the end of last month, according to checks by Bloomberg. Apple is striving to widen its scope of products and enrich its customers’ selection amid the pandemic. As a result, the company is promising shareholders a better future in investing and at the same time delivering quality products to its global customers.
Apple has offered products from Bose and Logitech for several years, however, the company temporarily stopped sales of Bose accessories in 2014 after the latter sued Apple-owned Beats for patent infringement. The case was however settled quickly. Back in 2016, Apple began selling some Sonos speakers and later stopped. However, in January, the company started selling Sonos’s One SL speakers that lacked a competing digital voice assistant but removed that device from its online store last month as well.
With a market capitalization of around $1.98 trillion at the time of reporting, Apple is capable of delivering cheaper, quality and competitive products in the near future. However, some of these practices have attracted the attention of America’s policymakers due to market monopoly. A few weeks ago, Apple CEO, Tim Cook, appeared before the U.S Congress together with three other CEOs of the leading tech companies to answer questions pertaining to market monopoly.
However, with the company’s huge market influence, it is able to develop products that compete directly with its competitors. This comes as Apple prepares to unveil its newest iPhone that supports the 5G network among other latest technologies. Recently, the company also launched its bundled subscription services dubbed Apple One to reach out to more customers globally. With the possible introduction of its sound entertainment products, the company is set to surpass the $2 trillion cap level at ease.
It is worth mentioning that AAPL shares are poised to revisit and surpass the all-time high set around $137 at the end of last month.
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