Sydney-based consumer electronics company, Convoy International is conducting a major restructure of its business lines.
The family-owned 51 year-old business will exit mass market products such as headphones, portable wireless speakers and accessories to solely concentrate on the high-end, speciality audio market.
“Over the last five years we have successfully built both the profile and market shares of our world famous brands in the wider consumer market,” Convoy CEO, Geoff Matthews, said.
“In that time we have enjoyed an amazing journey, delivering a wealth of products – over 1.5 million of them in fact, specifically targeted toward the booming portable audio player, smartphone and tablet market. We believe that now is the ideal time to hand the baton to others and allow them to focus on the mass market while we increase our focus on our traditional high-end, specialty audio business maintaining support from our knowledgeable team to our long standing dealer base.
“Our decision to hand back the distribution of headphones and portable wireless speakers and accessories to the CE Channel allows them to continue to build on our success.”
Matthews said it was entering into its sixth decade in audio.
“We are witnessing an amazing transformation of our component audio business into a high definition landscape. In addition to the familiar formats, we now have access to true HD digital audio content, coupled with incredible sonic improvements in amplifier and loudspeaker systems: it’s a very exciting time,” he said.
Convoy was established in 1965 and in the last five years, it has shipped more 950,000 headphones and 500,000 docks and portable speakers into the Australian and New Zealand market.