Smart hearing solutions specialist Nuheara Limited (ASX: NUH) has hit a significant milestone, with pre-orders for its IQbuds2 MAX passing $1 million since they were launched at CES in January 2020.
CEO Justin Miller said that in eight weeks the company has now achieved a record Direct to Consumer (DTC) in paid order sales.
MR Miller said Nuheara has achieved this result with a significant uplift in the Average Selling Price (ASP) achieved for all orders now exceeding $400 per unit. 76% of all orders have been placed by international customers and of those, 68% are from the US.
We are delighted to have had such a welcome signal from the market that IQbuds2 MAX will be a valued product to thousands of consumers,” Mr Miller said.
“To have received such a positive pre-order response to our flagship IQbuds2 MAX can be attributed to the three CES innovation awards, as well as the multitude of powerful product reviews from both mainstream and technology media.
“We are committed to manufacturing and shipping these pre-order units as quickly as we can and building our supply capacity for both DTC and traditional retailers.”
However, Mr Miller did reveal that the company has felt some impact from the Coronavirus scare. He said that while all Nuheara hardware manufacturing is conducted in Malaysia, the company is managing some component supply chain logistics from China.
Mr Miller also revealed that Nuheara is releasing its next generation app on both the Apple App Store and Google Play portals. This is the third major release of the IQbuds app and represents an all-new design backed by millions of hours of IQbuds listening experience and user feedback and testing.
“The new app is a generational leap forward in usability and design. It has been specifically designed to improve the customer experience and provide a framework for future app features and upgrades.” said Dr Alan Davis, Chief Product Officer.
“We spend significant time analysing the way our users interact with our products and our new app is the culmination of years of experience in the direct-to-consumer hearing space. It is an important market differentiator for us and allows us to provide an integrated hearing healthcare solution for our customers.”
“The app has been designed to be compatible with all our IQbud and IQstream offerings, meaning our existing user base of IQ products will benefit from this new release.”
The app is compatible with Nuheara’s IQ product line of IQbuds, IQbuds Boost, IQbuds2 Max and IQstream TV. It has been approved by Apple for release and is expected to be available for download on the Apple App store and Google Play starting Friday 28th February 2020.
