CALIFORNIA: On Tuesday, Apple’s announcement of new hearing aid features for its AirPods Pro 2 sparked a decline in shares of European hearing aid companies.
The tech giant revealed that an upcoming software update would enable AirPods to function as personalized hearing aids, enhancing certain sounds in real-time.
In response, shares of Italy’s Amplifon plummeted 7.2%, settling at a 5.7% decline by 0845 GMT. Other companies, including Sonova, Demant, and GN Store Nord, saw their shares drop between 2% and 4%.
However, analysts from Jefferies and Vontobel downplayed concerns, stating that Apple’s over-the-counter (OTC) hearing aids target a different demographic than prescription hearing aids.
OTC devices, like Apple’s, cater to individuals with mild hearing problems, offering a more affordable but less advanced solution.
While Apple’s announcement initially rattled the hearing aid industry, some analysts believe it may ultimately raise awareness about hearing loss issues, potentially benefiting the industry as a whole
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