A challenging first quarter for Zound
The global COVID-19 pandemic impacts Zound Industries as sales drop by 32 percent for the first quarter compared to 2019. Net sales for Q1 2020 totalled 257.7 MSEK.Like many other companies, Zound Industries has been affected by the ongoing COVID-19 pandemic. Going into the year, stock levels in the industry were already high due to a weaker end to 2019 than expected. During the second half of the first quarter the market for headphones and speakers shrank due to the ongoing health emergency and the measures taken by governments and health authorities to stop the spread of the novel corona