Owings Mills, Md. - Sandy Gross, a co-founder of speaker companies Polk Audio and Definitive Technology, is launching his third home-speaker company despite what he called a challenging home audio industry.

Gross will launch the new company, GoldenEar Technology, with Don Givogue, one of three co-founders of Definitive.

Definitive was sold in 2004 to Directed Electronics, which also owns Polk Audio.

The first products, a limited selection of in-room speakers, will be unveiled at September's CEDIA Expo.

Although starting a new speaker company is "a challenging proposition," Gross said, the company sees an "opening" for a company that will "bring back the combination of entrepreneurial spirit and passion for incredible sound, which has always driven this business and helped to create great companies like Polk and Definitive."

"I love the business and product," he told TWICE. "I don't think I'm ready to retire."

"We'll create an exciting product that will distinguish itself with its sonic performance, styling and value," Gross said.

 "We will be very limited in terms of SKUs in order to make it as easy as possible for dealers to bring in GoldenEar and begin what is certain to become a very profitable and enjoyable relationship."

Although Definitive was purchased in 2004, Gross stayed with the company until he left in March 2009.  "I hope to be a friendly competitor [with Definitive]," he said.

In 1972, Gross teamed with Matthew Polk, George Klopfer and Craig Georgi to create Polk Audio. Gross started Definitive in 1990.