Cherry

What Cherry does

Cherry SE (Societas Europaea) is a Germany-based, publicly listed manufacturer of mechanical keyboard switches and input peripherals, tracing its origins to 1953 as the oldest computer keyboard maker. Headquartered in Auerbach, Germany, the company operates four primary business lines: (1) office and home-office peripherals (STREAM and KC/KW keyboard lines, mice, desktop sets); (2) gaming peripherals under the XTRFY sub-brand acquired in January 2023, including keyboards, mice, headsets, and microphones; (3) healthcare eHealth terminals (ST-1506, PP-1516) and related software (CHERRY TMS, TI-Messenger) for German telematics infrastructure; and (4) industrial/security peripherals and POS solutions.

The company's core technology stack centers on proprietary Cherry MX mechanical switches manufactured in Germany (MX2A, MX Low Profile 2.0, MX Ultra Low Profile, MX Multipoint variants), supplemented by two newer proprietary platforms: Ultra-Wideband (UWB) wireless technology enabling 8,000Hz polling rates and sub-millisecond latency, and Tunnel Magneto Resistance (TMR) magnetic switch technology offering 0.01mm actuation accuracy. Cherry also sells Cherry MX switches as OEM components to third-party keyboard manufacturers, creating a dual-sided revenue model around its switch IP. Software services (TMS, TI-Messenger, KEYS, MagCrate) represent a smaller attached revenue layer primarily in healthcare and key customization.

Revenue mechanics are hardware-driven across multiple channels: direct-to-consumer e-commerce storefronts (CHERRY Shop EU/DE/FR), authorized distributors and VARs globally, Amazon marketplace (notably for XTRFY gaming SKUs), and direct enterprise sales for office and healthcare customers. Unit pricing spans mid-market office keyboards (~$149) to premium gaming keyboards (~$249.99). Cherry reported FY2025 preliminary revenue of EUR 94.3 million, down 15% year-over-year due to weaker demand and asset divestments, with adjusted EBITDA of EUR -9.8 million, indicating the company is currently executing a restructuring cycle while continuing to invest in next-generation gaming and switch technologies.

Name

Cherry

Legal name

Cherry SE

Website

https://cherryamericas.com

Company type

Public

Founded year

1953

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cherry SE is a German manufacturer of mechanical keyboard switches and input peripherals serving office, gaming, healthcare, and industrial markets globally through proprietary MX, UWB, and TMR technologies and the XTRFY gaming brand.

Ownership category

akta.pro rank

Product category

Computer Peripherals (Mechanical Keyboards & Input Devices)

akta.pro primary industry

Keyboards & Keypads (HDACAFAA)

akta.pro secondary industry

Gaming Peripherals & Player Interface Hardware (Bill/Ticket Validators, Printers, Touchscreens) (MPAEANAE)

Keywords

• Mechanical keyboard switches
• Computer input peripherals
• Gaming keyboards mice
• Office productivity keyboards
• Mechanical switches manufacturing

Headquarters

HQ city

Pleasant Prairie

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Peripherals Hardware Sales: Revenue from manufacturing and selling keyboards, mice, headsets, and accessories for gaming and office markets. Includes products under both CHERRY and XTRFY brands.
2. Mechanical Switches OEM/Aftermarket: Sale of Cherry MX switches to other keyboard manufacturers and aftermarket sales for custom keyboard enthusiasts
3. eHealth Terminals and Software: Healthcare sector solutions including eHealth terminals ST-1506, PIN-Pad PP-1516, and related software services (TMS, TI-Messenger) for telematics infrastructure
4. Professional Audio Equipment: Revenue from professional microphones including NGALE series and UM microphone series for recording and streaming applications
5. Industrial and Security Peripherals: Specialized keyboards and mice for industrial applications, security systems, and point-of-sale (POS) terminals

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Cherry designs, manufactures and sells mechanical keyboard switches (MX family) and finished input peripherals — keyboards, mice, headsets, microphones and desktop sets — across office, gaming, healthcare and industrial segments. The company also produces eHealth terminals (ST-1506, PIN-Pad PP-1516) and supporting software (CHERRY TMS, TI-Messenger, KEYS) for healthcare telematics infrastructure, and sells MX switches to other keyboard makers and aftermarket custom builders.

Product overview

Cherry is a German-based international company offering a diversified portfolio of input devices and healthcare solutions. The product portfolio consists of: (1) Office peripherals including keyboards, mice, and desktop sets under the STREAM and KC/KW lines; (2) Gaming products under the CHERRY XTRFY sub-brand (acquired Swedish esports company) featuring keyboards with Ultra-Wideband and TMR technologies, gaming mice, headsets, and microphones; (3) Industrial keyboards for specialized applications; (4) Cherry MX mechanical switches sold as components to other manufacturers and used internally; (5) Healthcare solutions including eHealth terminals and PIN pads for telematics infrastructure; and (6) Software services including CHERRY TMS for remote eHealth terminal administration, TI-Messenger for healthcare communication, and KEYS for key customization. The company operates across office, gaming, health, and industrial segments with products ranging from consumer peripherals to specialized healthcare and industrial equipment.

Differentiator

Problem solved

Functional benefit

Brands

• CHERRY XTRFY: Esports gaming peripheral brand acquired from Swedish company Xtrfy Gaming AB, featuring high-performance gaming keyboards, mice, and headsets.

Products and services

• CHERRY STREAM Desktop Ultimate Flagship wireless office desktop set pairing the STREAM Keyboard Ultimate and STREAM Mouse Ultimate for professional users seeking ergonomics, multi-device flexibility and quiet operation.
• CHERRY STREAM Mouse Ultimate Professional wireless mouse offering ergonomic design, precision tracking and multi-device flexibility for demanding office users.
• CHERRY STREAM Keyboard Ultimate Wireless multi-device office keyboard offering quiet operation, ergonomics and flexible connectivity for professional and home office users.
• CHERRY KW 300 MX Compact hot-swappable wireless mechanical keyboard with sound-proofed housing, targeting Mac users and office professionals seeking quiet MX2A Silent Red switches and Bluetooth connectivity for up to four devices.
• CHERRY KW 550 MX LP Mechanical 96% layout office keyboard built with CHERRY MX Low Profile 2.0 switches, combining slim design with mechanical performance.
• CHERRY KC 500 MX LP Slim mechanical low-profile office keyboard with CHERRY MX Low Profile 2.0 switches, available in full-size and TKL variants.
• CHERRY KW X ULP 2.0 MINI Ultra-slim compact mechanical keyboard built on CHERRY MX Ultra Low Profile 2.0 switches for premium office and prosumer use.
• CHERRY KW 9200 MINI Rechargeable compact wireless office keyboard supporting 2.4 GHz, Bluetooth 5.0 and wired connections for multi-device flexibility.
• CHERRY STREAM Desktop Comfort Wireless office desktop set designed for ergonomic and quiet working, combining a STREAM keyboard and mouse for shared-workspace environments.
• CHERRY MW 2200 Compact wireless laptop mouse with nano USB receiver and carrying pouch, targeted at mobile and travel use.
• CHERRY KC 200 MX Mechanical office keyboard with clear-cut design and anodized metal plate for durability and a premium look-and-feel.
• CHERRY XTRFY K63W Pro Compact Ultra-Wideband Compact 70% wireless gaming keyboard featuring Ultra-Wideband technology with 8,000Hz polling rate for near-zero latency in both wired and wireless modes, designed for competitive gamers and esports players.
• CHERRY XTRFY MX 8.2 Pro TMR Wireless Flagship wireless gaming keyboard featuring Tunnel Magneto Resistance (TMR) magnetic switch technology with 0.01mm actuation accuracy and 8,000Hz polling rate, designed for competitive esports play.
• CHERRY XTRFY K33 Compact Wireless Compact wireless mem-chanical gaming keyboard under the CHERRY XTRFY esports line, designed for competitive gaming.
• CHERRY XTRFY K5 Pro TMR Compact Compact TMR magnetic-switch gaming keyboard under the CHERRY XTRFY line, targeted at competitive esports play.
• CHERRY XTRFY MX 10.1 Wireless Wireless mechanical low-profile gaming keyboard under the CHERRY XTRFY line.
• CHERRY XTRFY MX 8.3 TKL Wireless TKL wireless mechanical gaming keyboard with onboard LCD display, part of the CHERRY XTRFY gaming line.
• CHERRY XTRFY H3 Wireless Wireless pro gaming headset under the CHERRY XTRFY esports line, designed for competitive gaming and streaming.
• CHERRY XTRFY M68 PRO Wireless Ultra-fast symmetrical wireless gaming mouse under the CHERRY XTRFY line, designed for competitive esports play.
• CHERRY XTRFY GP7 Black Graphene-fabric gaming mousepad under the CHERRY XTRFY line, sold as a standalone gaming accessory.
• CHERRY XTRFY NGALE X Microphone Professional USB and XLR microphone for recording and streaming, part of the XTRFY NGALE series for content creators and streamers.
• CHERRY MX2A Mechanical Switch Family Proprietary CHERRY MX2A mechanical switch family manufactured in Germany, sold as standalone components to other keyboard manufacturers and to aftermarket custom keyboard enthusiasts; includes Red, Brown, Black, Blue, Silent Red, Silent Black, Speed Silver and Purple variants.
• CHERRY MX Low Profile 2.0 Switches CHERRY MX Low Profile 2.0 mechanical switch family (Red and Speed variants) manufactured in Germany, sold as standalone components for slim keyboards.
• CHERRY eHealth Terminal ST-1506 Disinfectable touchscreen eHealth terminal designed for German telematics infrastructure applications in doctors' offices, hospitals and pharmacies.
• CHERRY eHealth PIN-Pad PP-1516 eHBA (electronic Health Professional Card) PIN-pad signature device for secure signatures in home office and telehealth use within German telematics infrastructure.
• CHERRY TMS Software Remote administration software for managing distributed CHERRY eHealth terminals across healthcare telematics infrastructure (TI).
• CHERRY TI-Messenger Secure digital communication messenger service for healthcare providers, integrated with the German telematics infrastructure (TI).
• CHERRY KEYS Software Software utility that enables individual key assignment and customization for CHERRY keyboards.

Quantifiable outcome

• 8,000Hz polling rate enabling 0.125ms response time in gaming keyboards
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered flagship and core.

• Xtrfy Gaming ABflagshipStrategic or Co-development Partner · 1 January 2023Swedish esports accessory maker acquired by Cherry SE in January 2023 to strengthen Cherry's position in the esports market. Xtrfy specializes in high-performance gaming keyboards, mice, and headsets for competitive esports players.
• Active KeycoreStrategic or Co-development Partner · 1 May 2021Acquired by Cherry (backed by Argand Partners) in May 2021. Active Key is a keyboard and input device manufacturer that complements Cherry's existing product portfolio and manufacturing capabilities.
• Active KeycoreStrategic or Co-development Partner · 1 May 2021Cherry completed the acquisition of Active Key in May 2021, expanding Cherry's product offerings and market presence in the keyboard and input device market.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Logitech: Global leader in keyboards, mice, and PC peripherals with extensive office (MX Keys, MX Master) and gaming (G, Pro, Astro) lines. Directly comparable to Cherry's office and gaming segments, though Logitech is a much broader incumbent with wider portfolio and distribution.
• HP: Major PC OEM with bundled and standalone keyboard/mouse peripherals (HP 920, OMEN gaming line). Broad incumbent competing indirectly across both office and gaming tiers.
• Microsoft: Surface-branded keyboards and ergonomic accessories compete with Cherry's office and Mac-targeted lines. Broad incumbent in PC peripherals with strong enterprise channels.

Direct peers

• Razer: Premium gaming peripherals maker competing head-to-head with Cherry XTRFY in gaming keyboards (BlackWidow, Huntsman), mice, and headsets. Closest direct competitor on gaming focus, esports marketing, and 8KHz/Hall-effect switch technology.
• SteelSeries: Gaming keyboard, mouse, and headset maker (Apex Pro line with adjustable Hall-effect switches). Direct competitor in the gaming peripherals category, particularly against XTRFY in esports-focused products.
• Corsair Gaming: Broad gaming peripherals and components maker with mechanical keyboards (K-series), mice, and headsets. Comparable to Cherry XTRFY in gaming segments, with stronger scale in PC components and streaming.
• Mad Catz: Esports-focused gaming peripherals brand offering keyboards, mice, and flight sticks. Comparable niche competitor to XTRFY in the gaming/esports category, though much smaller in scale.

Emerging players

• Wooting: Direct competitor in analog/magnetic-switch mechanical gaming keyboards (Wooting 60HE, 80HE). Uses Hall-effect technology that overlaps Cherry's TMR magnetic switch roadmap, making it the most direct emerging rival in flagship gaming.
• Keychron: Mechanical keyboard maker popular with custom keyboard enthusiasts and Mac users; sells keyboards using Cherry MX switches. Comparable as a channel partner and competitor in the mid-range office/productivity and enthusiast segment.
• Glorious PC Gaming Race: Direct-to-consumer gaming peripherals maker (GMMK modular keyboards) competing with XTRFY in enthusiast and pro-sumer mechanical keyboards. Overlapping audience and pricing tier.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Cherry_ZF_Elec
• YouTubeyoutube.com/c/CHERRY_ORG
• Facebookfacebook.com/CherryZF
• LinkedInlinkedin.com/company/18148
• Instagraminstagram.com/cherry_original
• TikToktiktok.com/@org_cherry

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cherry