(Reuters) – Shares of audio device makers Sonos Inc and Logitech fell on Tuesday after their speakers were removed from Apple Inc’s online stores.
Apple’s website now only has products from Beats, a company it bought in 2014, and its own speakers and headphones, checks made by Reuters on Tuesday showed.
“We regularly make changes to the products we sell as new third-party accessories are introduced or customers’ needs change,” an Apple spokesman said in an email.
Shares of Switzerland-based Logitech were down 5.7%, while Sonos fell 3.2% on the Nasdaq.
Cupertino, California-based Apple has taken this approach in the past around new product launches. It stopped selling Fitbit Inc’s fitness bands and smart watches after coming up with the Apple Watch, according to media reports.
Bloomberg reported https://bloom.bg/33BYc8C late on Monday that the rival products were removed from its online store in late September and that its employees at their brick-and-mortar stores were also asked to remove the products in recent days.
(Reporting by Subrat Patnaik and Tiyashi Dutta in Bengaluru; Additional reporting by Thyagaraju Adinarayan in London; Editing by Maju Samuel and Shounak Dasgupta)
