Lots of people stuck at home with nothing to spend their money on!
5 Likes
FWIW Naim didn’t really have a choice with the QB2 as I was told that the partner who built it for them (IIRC different to the partner who builds the larger Mu-So) wanted an increased minimum order number that just didn’t make any sense for Naim.
6 Likes
@Eoink with respect I don’t think Salisbury would have a say IMO, the owners are in France
Martin
while a sharp revenue drop off isn’t welcome and certainly not traversable without adjustments, the forced discontinuation of so many items in an 18 month period due to parts availability has almost certainly added to the pain of not having enough products to sell.
That said, with other items in the pipeline, we don’t really know what position they are in to navigate out of this and there’s as much chance of the current situation being one of several planned for scenarios as there is not. If belt tightening actually happens, I expect we’d know about it rather sooner because any consultant would tell a client in tough times to retrench to the core business and shed everything else. In other words, I expect the forum would be the first to go as a non essential expense. Therefore, as long as we are still here, I choose to believe things are under control albeit in an undestired state.
5 Likes
Don’t forget those are Dec 2024 accounts. Even in loss, operations were still cash generative. Plus it’s a pretty healthy balance sheet albeit, the drop off in cash overall may be a worry, hence probably the reason for liquidating a lot of stock at knock down prices over the last year. We’ll see when they publish the 2025 accounts (probably not till the summer) whether they had to take any funding from the owners to keep them liquid. As of now, they’re still here and a going concern, as far as we know!
I just hope they can launch a couple of great hifi units this year, they need it and so do the dealers. My dealer not that long ago was selling 50% Naim, but has had to diversify and bring in several other brands. These new brands may be difficult to dislodge.
1 Like
Well, the Diva and Muso Hekla were both largely developed by Naim, but being Focal branded, their sales might well end up on Focal’s balance sheet. So one could wonder if these accounts tell the whole company story by themselves. But it might explain the investment in R&D despite all numbers appearing down.
6 Likes
I thought New Classic was launched 2023?
Ah, if so then no product launches in 2025 (?) and might explain why stock is so high.
Yes - that could indeed be partly it which then makes you wonder how much of the turnover is derived from intra-group sales. The other thing about R&D is the long lead time - investment in 2024 probably wouldn’t start substantially paying off until 2026 on.
I really hope Naim can turn their losses back into profit
Rega is currently offering about 5 integrated amps plus a few cd players so I hope Naim releases at least a couple of new integrated amps soon
If Naim doesn’t release a new cd player I’m kinda ok with that as I believe it’s now not a big market due to streaming taking over
1 Like
I do think Naim need a Nait to bridge the Uniti and 200 series. With that comes a matching streamer. They could squeeze an amp into the 222 which could also work. This certainly needs to be resolved soon I would think.
3 Likes
While I respect any company’s business decision, I am just super happy that was able to listen to and afford SN3 and ND5XS2 when I wanted it.
9 Likes
I spent a good amount of time looking at the IO and Brio when my old Pioneer (with the phono stage) went in for repair - think Rega has the most compelling entry / mid-level hifi lineup out there (ironically, no streamer though 
) If I was starting today, that’s where I’d be.
Naim is going to cede that territory to them if there’s nothing new in development. And they’ll most likely not get it back.
7 Likes
I have thought the same, but the Uniti range now seems to be the entry level .
3 Likes
Fair dos, but an ‘entry level’ Atom at €2,600?
Won’t get into SQ here, but the point is that at first contact, there’s a very wide gap between a €600 IO and a €2,600 Atom. Even a €999 Brio w a DAC and a phono stage is significantly less expensive.
1 Like
I had the Brio in 2005, so not the last. I found it very poor sounding for its price. I would be surprised it can compete with a Nait 50 or even 5i.
2 Likes
As I said, not getting into SQ here. And those two units are not in production anymore.
It’s about the price gap to get on the ladder as they say.
1 Like
Fair enough, I also moved from Rega to Naim in 2005.
However, the latest Brio mk7 has a built-in DAC that makes the budget streamers sound (more) analogue, built-in phono and headphone, and overall a nice amp for 1000 euro. The IO simply as an amp for youngsters to start with separates is unbeatable, see the Rega System One approach.
A fair comparison for SQ and price Naim vs Rega is Nait 5i level the Rega Elex mk4, Nait XS level the Rega Elicit mk5, and Supernait level the Rega Aethos. Notice all these Naim models now discontinued.
Nait 50 is out of that scope as a limited edition Anniversary model.
7 Likes
Ah ok, i understand.
But imagine Naim produces a new Nait 5 today. There are so many competition that I don’t see how he can make a profit on it. You can have a Win Pro , Eversolo….all these new Chinese brands that are on the same level for much less money.
Only Naim pure afrodicianos would be interested, but they represent probably a so small market today that Focal/ Naim don’t bother.
4 Likes