Philips Launches Hearlink Hearing Aids Globally
Philips, the $20-billion (USD) global consumers electronics and healthcare giant, is entering the hearing healthcare market with a complete range of premium hearing aids. Philips Hearing Solutions will sell Philips HearLink-brand hearing aids manufactured by Demant, whose Oticon, Bernafon and Sonic brands have helped make it one of the world's top five hearing aid companies.
Søren Nielsen, President & CEO, Demant, said Philips hearing aids will be marketed to audiologists, hearing aid dispensers, and others who resell top manufacturers' premium hearing aids. "Philips Hearing Solutions offers new and exciting premium solutions alongside Philips’ healthcare ecosytem, which will attract interest and generate significant benefits to users, ultimately supporting our valued customer base of hearing care professionals,” Nielsen said.
A new global distribution channel for Demant
The new Philips HearLink hearing aids are the first fruits a licensing partnership agreement Demant and Philips announced last summer. The companies said Philips will leverage Demant's hearing-aid technology to deliver hearing solutions through its strong presence in healthcare markets worldwide. For Demant, the partnership opens up a new global distribution channel at a time when the Big Five hearing aid makers are striving to increase unit-volume sales to compensate for pressure on average selling prices of their premium hearing aids.
“Combining Demant’s world-leading hearing aid technology with Philips’ global brand presence in healthcare, the cooperation will enrich the hearing healthcare experience,” said Spencer Ramsey, Senior Director, Brand Licensing, Philips.
The partnership is a strategic shift for Demant, which last year announced it would unwind its long-term joint venture with Sennheiser, maker of high-fidelity headsets for consumers and business.