HIGHLIGHTS
- Nuheara solidifies brand as a global leader in the hearables market with a new “hearing intelligence” corporate positioning supported by an extended suite of new intelligent hearing products
- 2018 will see the introduction of two additional intelligent hearing products
- New products will expand Nuheara’s product offerings in both Consumer Electronics and Hearing Solutions retailers, thereby leveraging existing and growing relationships in both sales channels
- New product introductions supported by Juniper Research forecasting 550% growth of hearables market between now and 2020 with “assistive audio” products representing 68% of this growing market
- In development for over 12 months, these new products support Nuheara’s ongoing commitment to Research and Development and product excellence.
Nuheara Limited (“Company” or “Nuheara“), is pleased to announce that 2018 will see the expansion of Nuheara’s offering with the release of two newly developed intelligent hearable products to create a suite of products beyond the existing IQbudsTM. In preparation for the Company’s multi-product offering, Nuheara has repositioned its corporate branding to better reflect the company’s global leadership position in the research, development, manufacture and sales of intelligent hearing devices.
Figure 1: Nuheara’s newly developed corporate brand – Hearing Intelligence
The global hearing device market is undergoing rapid change, which is stimulating the need for new products. This is highlighted by the new innovative technologies that companies such as Nuheara are incorporating into headphone devices but also the significant changes to hearing health regulations; where there is a sizeable shift away from intense regulation (OTC Hearing Aid Act, USA) in order to provide more cost-effective solutions for those requiring hearing assistance. Juniper Research now forecasts 550% growth of the hearables market between now and 2020 with “assistive audio” representing 68% of this market, driven by the OTC legislation in the US and the corresponding expansion of retail channels for Hearing Solutions.
Accordingly, the Company’s two new products target opposite ends of the intelligent hearing market, with a lower priced lifestyle product and also a new hi-tech more personalised and customisable product featuring Artificial Intelligence (AI) functionality via neural networks. In development for over 12 months, the new products are a direct result of the Nuheara’s foresight and ongoing commitment to Research and Development in hearing intelligence. More importantly these new products, together with IQbuds™, provide a suite of intelligent hearing solutions that underpin and directly target the changing hearing market landscape.
Figure 2: Nuheara’s new product positioning for 2018 in a changing hearing market
Commenting on the new product developments Nuheara CEO, Justin Miller, said:
“Our IQbudsTM have unlocked retail stores globally for Nuheara, specifically within the Consumer Electronics (CE) and Hearing Solutions (HS) retail channels. The development of a new lower priced, lifestyle orientated, intelligent hearable, demonstrates Nuheara’s aspiration to offer a diverse range of intelligent hearing solutions to a much broader market base.
This provides the Company with the potential for more unit sales and revenue, without the expense of developing new channels or indeed impacting IQbuds™ sales. Equally a more personalised and customisable intelligent hearable for the HS channel, will provide a complimentary product to IQbudsTM but with far greater feature sets including Artificial Intelligence (AI) functionality.
We have worked very hard to build a global base of diversified retail outlets. These outlets will be well positioned to fully maximise sales opportunities by displaying multiple Nuheara intelligent hearable products, across multiple price points, to customers of varying needs and demographics.”
Contacts
Australia
Justin Miller
CEO and Managing Director
+61 8 6555 9999
[email protected]
About Nuheara
Nuheara is an innovative audio wearables company that has developed proprietary and multi- functional intelligent hearing technology that augments a person’s hearing and facilitates cable free connection to smart devices. Nuheara is based in Perth, Australia and has offices in San Francisco and New York, USA. Nuheara was the first consumer wearables technology company to be listed on the Australian Stock Exchange (ASX).
In 2016, the Company released its revolutionary wireless earbuds, IQbudsTM, which allow consumers to augment their hearing according to their personal hearing preferences and connect hands free with their voice-enabled smart devices. TM are now sold in major consumer electronics retailers and professional hearing clinics around the world. The Company’s mission is to improve people’s lives by allowing them to seamlessly listen, communicate, and connect to their physical and digital worlds.
Learn more about Nuheara: www.nuheara.com.
