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Nuheara continues global retail expansion of unique hearing device

Proactive Investors Friday, 13 October 2017 ()
Nuheara Ltd (ASX:NUH) is continuing the retail expansion of its IQbuds™ hearing device in brick and mortar (B&M) and online stores across the globe. The company’s IQbuds combines the features of a hearing device, a bluetooth earpiece and a noise cancelling headset. In July 2017, Nuheara had 42 stocking B&M retail stores, mainly in the U.S. In the three months since, this has grown to more than 600 stores across North America, Europe and the Middle East. As the company continues to on-board more brands and stores, the current forecast for B&M retail stores selling IQbuds is expected to reach 1800 stores by the end of 2017 calendar year. With 80% of consumer electronics still purchased by consumers in brick and mortar stores, it was imperative that the company gained a physical foothold in these stores. Importantly, this expansion now includes the on-boarding of leading brand retailers such as Harrods, Selfridges, Virgin, Elkjop, Media Markt and Liverpool across Europe, the Middle East and Mexico. The company is also continuing to strengthen its online presence with powerhouses such as Amazon and Best Buy. Nuheara’s shares are trading circa 11% higher intra-day, at $0.063.
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