GN Store Nord phases Out Products, Adjusts Forecast

Danish company GN Store Nord is phasing out two of its Jabra brand audio product lines – ‘Elite’ wireless earphones and ‘Talk’ bluetooth headsets, impacting its consumer business revenue by approximately 450 million kroner in 2024 compared to 2023. Consequently, GN has revised its revenue growth expectations from two to eight percent to just two to six percent. Following the announcement, GN’s stock fell over six percent. CEO Peter Karlstromer explains the phase-out is aimed at focusing on more profitable segments that promise robust returns. Sydbank analyst Søren Løntoft Hansen suggests that despite short-term negative reactions, the decision may be beneficial in the long run. GN intends to decrease stock levels of the affected lines by the end of 2024 but will continue to offer support for several years. The company also manufactures and sells hearing aids.