New York CNN —
Sonos was once a pioneer in wireless home audio, holding its own against giants like Apple and Google in the niche market of premium speaker equipment. But after nearly a year of missteps and disappointment, the company says it has a plan to turn around its misfortunes – and regain customer trust.
The audio company has been in turmoil after a dysfunctional app update last May caused customer outrage, overshadowing the launch of its first-ever headphones. The app meltdown cost the company $100 million, the CFO estimated late last year. Share prices slid
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