Amazon Unveils High-End Echo Speaker, Sending Sonos Shares Lower
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Amazon.com Inc. introduced the Echo Studio, a high-end speaker to rival Sonos Inc. devices, the Apple Inc. HomePod and Google Home Max. Sonos shares fell 3% to $14.23 following the news.
The Echo Studio has three mid-range speakers, a tweeter and a bass. It integrates Dolby Laboratories Inc.’s Atmos audio technology and works with Amazon’s new high-definition music service. Amazon said Universal Music Group, Sony Music Entertainment, and Warner Music Group are helping to support higher-quality audio for the speaker.