12 October 2020 – Perth Australia
Nuheara Limited (ASX: NUH) (Company or Nuheara), transforming the way people hear by creating smart hearing solutions that are accessible and affordable, is pleased to announce a phase II extension of the collaboration agreement with multinational technology company HP Inc (NYSE: HPQ) (HP).
On successfully completing a Proof of Concept (POC), Nuheara has now been awarded a $2 million (US$1.48 million) Phase II Purchase Order (PO) for works associated with the development and engineering of an ear bud variant specific to HP’s confidential use case. Phase I was previously awarded for accompanying software services.
“This next stage of the HP collaboration agreement is the result of Nuheara’s globally recognised leadership in hearables innovation,” said Justin Miller, CEO of Nuheara.
“We are looking forward to deepening this strategic OEM partnership over the coming months.”
Nuheara will advise the market of any further development phases and any subsequent supply agreements.
This announcement has been approved for release by Nuheara Managing Director Mr Justin Miller.
ABOUT HP Inc
HP Inc. (HP) is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers (PCs), printers and related supplies.
HP was formed on November 1, 2015, renamed from the personal computer and printer divisions of the original Hewlett-Packard Company, with that company’s enterprise product and business services divisions becoming Hewlett Packard Enterprise. HP is listed on the New York Stock Exchange and is a constituent of the S&P 500 Index.
HP is one of the world’s largest personal computer vendors with 2019 PC unit sales of 59 million devices, approximately 56,000 employees and 2019 total revenue of US$58.75 billion.
Nuheara is a global leader in smart personal hearing devices which change people’s lives by enhancing the power to hear. 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 headquartered in Perth, Australia and 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. In 2020 Nuheara released its third generation IQbuds² MAX. Nuheara products are now sold Direct To Consumer (DTC) and in major consumer electronics retailers, professional hearing clinics, pharmacies and optical chains around the world.
The Company’s mission is to transform the way people hear by creating smart hearing solutions that are both accessible and affordable.
Learn more about Nuheara: www.nuheara.com
Media and Investor Relations
Shane Murphy, FTI Consulting
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