Sonos Is Suing Google Over Smart-Speaker Technology
The market for smart speakers is largely dominated by tech giants that are willing to sell products at incredibly aggressive prices. Smaller players collectively represented just 12.5% of the market in the third quarter, according to recent estimates from Canalys. That would include Sonos (NASDAQ: SONO), the premium audio specialist that went public in 2018. The company is now suing Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google, alleging that the search giant has infringed on its intellectual property (IP) and abused its market power.
Here's what investors need to know.
Image source: Sonos.
Source Fool.com
