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Sonos announced this morning it obtained revenue of $535 million for 2013, which represents 97 percent growth from 2012, incredibly the Hi-Fi speaker company has attained 10X growth since its first year in business.

For anyone that has used Sonos products, this success shouldn’t be too much of a surprise. We’ve reviewed a lot of Sonos’ products and enjoy using them. They are easy to set up, use and sound incredible. We feature them on gift guides throughout the year and really are not surprised that many more folks have discovered the company.

Sonos really set the standard and created a new market category when it began the wireless speaker/system business. The market segment is booming (really, no pun intended) and new products enter this space daily and Sonos is really excited about that.

Sonos is so excited about this industry that it is releasing its patents for the betterment of this technology.

Sonos Co-founder Greg Shelburne wrote today on the company blog:

Looking ahead, in the interests of being transparent and eliminating surprises, we will be ‘forward-publishing’ our patent applications well before they are available to the public (which is usually 18 months after the patent application). We are doing this for anyone or any company that might be interested in the patents we are seeking.

While Sonos doesn’t strictly want competitors to steal and copy its technology, it does however want competition to spur innovation.

This idea quite frankly blows my mind, especially in an era of patent disputes and expected litigation around every new technological corner, Sonos is taking a far different approach. Sonos is urging its competitors to innovate by creating differentiating products using its base technology. That is an incredible gesture and as tech fans we should all hope every industry would follow this somewhat altruistic path. Not many companies would willingly disclose patent information or forego competitive advantage for the sake of industry innovation. That seems insane. Insanely brilliant, that is, and it makes feel all warm and fuzzy.

Will this plan work for Sonos? Only time will tell, but we hope so. In the least, the wireless music speaker/systems space receives a jolt of innovation.

Source Sonos