Audeara Secures $570,000 Order for Hearing Earbuds in Partnership with Clinico

October 08, 2024 01:40 PM AEDT | By Team Kalkine Media

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Audeara Secures $570,000 Order for Hearing Earbuds in Partnership with Clinico — Image source: shutterstock

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Highlights

Audeara secures a $570,000 order for its hearing earbuds from Clinico.

The products will be sold exclusively in China and Taiwan under Clinico’s branding.

The partnership expands Audeara’s footprint in key Asian markets.

Advanced hearing technology company Audeara (ASX:AUA) has announced a significant milestone with a $570,000 mass production purchase order from Clinico, Taiwan’s largest hearing aid retailer. This order represents a crucial step in the company’s efforts to expand its presence in the Asian market, specifically in China and Taiwan. The hearing earbuds, developed using Audeara’s cutting-edge sound personalisation technology, will be sold exclusively under Clinico’s branding, with an official product launch set for the second quarter of the 2025 financial year. Audeara, an ASX tech stock, is leveraging this partnership to strengthen its foothold in the region.

This partnership between Audeara and Clinico, originally formalized in February 2023, marks a significant development in Audeara's strategy to collaborate with market leaders in the audiology sector. Clinico’s $180,000 cash deposit in August provided an initial boost to Audeara’s cash flow, supporting the production of hearing aid components and helping the company maintain operational momentum as it prepares for growing market demand.

Audeara’s CEO, Dr. James Fielding, highlighted the importance of this purchase order, stating that it reflects Clinico’s confidence in Audeara’s product line and technology. He emphasized that the deal aligns Audeara with a world-class distribution partner, paving the way for the company to expand its presence in major Asian markets. The exclusivity of this partnership means Clinico will prioritize Audeara-branded products in China and Taiwan, boosting the company’s visibility and market potential in these regions.

With China alone projected to have over 561 million people experiencing some degree of hearing loss by 2034, the market opportunity for Audeara is vast. The partnership with Clinico, which holds over 33% market share in Taiwan and has a strong foothold in China, positions Audeara to capture a significant portion of this growing demand.

This partnership with Clinico and the resulting purchase order underscore Audeara’s commitment to expanding its international footprint and becoming a leading player in the global hearing technology sector.

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