Medical device developer Nuheara (ASX: NUH) is pushing on in expanding its addressable audience in Australia and New Zealand, with the appointment of Force Technology as a “key distribution partner” to service the offline retail markets in both countries.
Force Technology currently services the Australian and New Zealand retail market through more than 4,000 reseller partners including Telstra, Harvey Norman, Optus, Retravision, JB Hi-fi and Officeworks – considered to be some of the leading ‘brick-and-mortar’ retail shopping vendors in both Australia and New Zealand that attract millions of shoppers each year.
In Australia, Nuheara’s retail expansion also includes the likes of Bloom Hearing Clinics who are currently trialling Nuheara’s IQbuds with a view of becoming the leading Australian supplier having established a significant UK presence in recent years.
Bloom is also considering expansion into Hong Kong, Singapore and New Zealand which by extension could further expand Nuheara’s addressable audience around the world.
“The market in which Nuheara operates is at the cutting edge of the next wave of consumer audio technology, and Nuheara is a genuine market leader.
With Force’s 26 years’ distribution experience across the telecommunications and consumer electronics markets, and Nuheara’s current line-up and emerging roadmap of products, we look forward to this partnership to deliver incredible products to consumers across Australia and New Zealand,” said Mr Jake Minear, director of Force Technology.
Commercially louder performance
Earlier this year, Nuheara reported strong sales figures and said it had generated a sales revenue total of A$4.5 million.
The company has set a firm marketing drive underlining its ability to provide accessibility and affordability in a rapidly changing hearing market landscape.
Nuheara has also made significant strides within the public sector, after onboarding its QBuds and IQBuds Boost devices on to the the government’s Hearing Services Program (HSP).
To stake its claim in the rapidly-evolving medical devices market, Nuheara has launched two proprietary products (IQbuds and IQbuds Boost) aimed at improving hearing and providing seamless device inter-connectivity for the benefit of the user.
The company has developed multi-functional technology that augments a person’s hearing and facilitates cable-free connection to smart devices such as phones and tablets.
With the development of IQbuds and IQbuds Boost, Nuheara now finds itself with multiple commercial avenues through which to grow its sales revenues and continue its development as a prominent manufacturer within both consumer electronics and hearing health market niches.
“Our global retail presence has grown enormously over the past nine months. Accordingly, Force’s appointment will allow Nuheara to more effectively service the Australian and New Zealand retail market, with particular attention to major brick and mortar retail,” said Justin Miller, CEO of Nuheara.