Nuheara launches IQbuds sales trial in Australia
Personal hearing device developer Nuheara (ASX: NUH) has kicked off a sales trial of its wireless earbuds, IQbuds, with two retailers in Australia.
The company released the IQbuds in 2016 and now sells the hearing device via major consumer electronics retailers and professional hearing clinics in Europe, the Americas and the Middle East.
IQbuds enable consumers to augment their hearing according to personal preferences, as well as connect hands free to voice-enabled smart devices.
Nuheara said the Australian sales trial, being conducted with online retailer Hearing Planet and hearing clinic Connect Hearing, is expected to go for three months and will be fully surveyed.
The trial will be geographically focused to only target the Sydney metropolitan area, for both clinic and online sales, with 15 of Connect Hearing’s clinics now stocked with IQbuds and trained staff.
Nuhearea chief executive Justin Miller said the company’s hearing healthcare product initiatives were designed to provide accessibility and affordability for hearing-challenged consumers, particularly those with only mild to moderate hearing loss who represent the majority that go without any hearing assistance.
“It is well reported that 15% of all adults have some degree of hearing impairment,” he said.
“What is largely unknown is that only 20% of those hearing-impaired adults have then actually purchased any form of hearing system to offset the impairment.”
“We are delighted to welcome Hearing Planet and Connect Hearing into the sales fold for a focused trial targeting these consumers,” Miller added.
Sales and distribution
Bloom Hearing Clinics are also currently trialling the IQbuds in Australia. They have a strong presence in the UK and are considering expansion into Hong Kong, Singapore and New Zealand, which could potentially expand Nuheara’s market opportunity.
Nuheara also has deals in place with Puretone, which distributes hearing aids and accessories in 48 countries around the world and has already stocked IQbuds in 90 clinics, as well as UK distributor Intracon and US-based clinical supplies provider Oaktree Products.
Earlier this month, Nuheara reported annual sales revenue of $4.5 million with 17,000 units sold in 2017.
The company is also planning the global launch of its new product, IQbuds Boost, within the next 12 weeks.
A third product, LiveIQ, is expected to be released around the middle of the year. This product is a wireless earbud with active noise cancellation technology and a lower price point, which Nuheara hopes will open up a broader consumer market.