Sonos Can Play Its Own Tune

In a market such as this, Sonos--with trailing 12-month sales now just topping $1 billion--would appear hopelessly outclassed. But papers for an initial public offering filed on Friday show that the maker of high-end wireless speakers still has a hand it can play. After being caught flat-footed by the surging popularity of Amazon Echo speakers in late 2015, Sonos shifted its approach. The company struck a deal to embed Amazon's Alexa voice technology into its own line of smart speakers, the first of which began shipping late last year. That helped Sonos deliver a 36% jump in device unit sales year over year for the first quarter ended December, with revenue rising 26% to $469 million.