Nuheara Limited (ASX: NUH) is a wearable technology company based in Perth, Australia. It has two other offices located in the USA, one in San Francisco and the other in New York. It is one of the leading companies in the world providing smart personal hearing devices which enables the person to enhance his/her power to hear. The company has developed proprietary and multi-functional smart devices which can be easily connected (wirelessly) to smart devices. NUH was the maiden wearable technology company which got listed on the Australian exchange in March 2010.
In 2016, the Company launched IQbud which is a revolutionary wireless earbud enhancing a person’s hearing according to his/her choice. It connects wirelessly with the voice-enabled smart devices. IQbuds are available at various consumer electronics retailers, clinics and optical chains all over the world.
Today, the company has further transformed people hearing journey through a new Point of Sale hearing screening kiosk IQconnect available at various retail stores globally. It has also launched a comprehensive Customer Relationship Management (CRM) platform.
IQconnect works on enhancing the sales process by checking whether the IQbuds family is fit for purpose for a customer or not through a two-minute instore screening hearing test which is tested at different frequencies to check the level of a person’s hearing loss. It examines the intensity of hearing loss and guides through the IQbuds range. Also, if the person is found with more profound hearing loss, it would guide them another hearing solution.
This in-store consultation is aimed towards enhancing the relationship between NUH and its customers or retailers. With IQconnect, the retailers are now more focused on creating enhanced service and touchpoint opportunities through the interaction with customers.
The screening test helps the customers to break the traditional barriers of visiting an audiologist and unlocks affordability and accessibility through easy access. The company is also providing a better after sale service to its customers through a comprehensive CRM platform which ensures that the hearing health is monitored throughout the person’s life.
IQconnect is currently on a trial stage available at a few retail stores, but it will be incrementally deployed at other retail stores globally during Q1.
As per the management, IQconnect completely connects the customer journey starting with the examining the intensity of hearing health to guiding the person through the range of IQbuds to proving a better after sale service by monitoring the health throughout the person’s life. The customers will receive push notifications every six months to re-take their hearing test so that they can have a full understanding of the level of support they require.
Yesterday also, the company launched IQstore, a subscription-based one-stop shop hearing service app.
Looking at the performance of Nuheara Limited’s stock and the return it has posted over the last few months, the stock has generated a positive return of 10.14% since one month. It is currently trading at $0.080 with a surge of 5.236% during the day’s trade (as on 10 January 2019, 15:48 EST). The company has ~960.66 million shares outstanding with the market cap of circa $73.01 million.
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