Spotify’s Soderstrom says HiFi still ‘coming at some point,’ The Verge reports

Spotify (SPOT) HiFi as a premium tier was ready to launch over a year ago, but Apple’s (AAPL) decision to offer lossless audio at no extra charge spoiled its plans, The Verge’s Jay Peters and Chris Welch report. Spotify co-president Gustav Soderstrom said in an interview with The Verge: "We announced it, but then the industry changed for a bunch of reasons… We are going to do it, but we’re going to do it in a way where it makes sense for us and for our listeners. The industry changed and we had to adapt." The executive added that "We want to do it in a way where it works for us from a cost perspective as well. I’m not allowed to comment on our label agreements, nor on what other players in the industry did, for obvious reasons." While the executive declined to provide a specific timeline, he confirmed that HiFi is "coming at some point." Reference Link