- Initial production run of 2,500 units of IQbuds Boost™ sold in first six weeks of sales
- Nuheara’s early June capital raise has secured future inventory
- Nuheara’s diversified retail market continues to expand across the US, Europe and the Middle East
19 July 2018 – Perth, Australia
Nuheara Limited (ASX: NUH) (“Company” or “Nuheara”), transforming the way people hear by creating game-changing hearing solutions that are accessible and affordable, is pleased to announce that following Nuheara’s capital raise the Company has secured ongoing production of IQbuds BOOST™. This follows the sell through of the initial production run of 2,500 units of IQbuds BOOST™ in the first six weeks of sales.
The early June capital raise was secured at a critical time to allow the Company to build new inventory. This has now allowed Nuheara to move volume into retailers throughout the course of July ensuring successful expansion into retail markets globally.
“Nuheara’s global market has gone from strength to strength, specifically the depth of the market diversity: from Best Buy’s newly created senior technology segment in the United States, to pharmacy giant Medseven in the Middle East, to optical leader Acuitas in Europe,” said Justin Miller, CEO of Nuheara.
“We are buoyed by initial reaction of the market to IQbuds BOOST™, specifically that our targeted demographic was so responsive to the benefits of IQbuds BOOST™.
“The international press coverage and technology reviews from leading commentators have been exceptional.”
“With IQbuds BOOST™ having an average user age of 58 years, we are now certain that Nuheara has effectively created a product to service the significant gap in the market for hearing solutions targeted at mild to moderate hearing loss.”
“This secures Nuheara’s mainstream position in the rapidly changing global hearing health care market,” said Justin Miller, CEO of Nuheara.
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Nuheara is a global leader in Intelligent Hearing: smart personal hearing devices that enhance and amplify human experiences. Nuheara 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, IQbuds™, which allow consumers to augment their hearing according to their personal hearing preferences and connect hands free with their voice-enabled smart devices. IQbuds™ 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