[March 28, 2014]COPENHAGEN (Reuters)
— Danish hearing aids
group GN Store Nord has seen a jump in its U.S. costumer base
following the launch of a new product developed jointly with Apple
for the iPhone, the company told analysts at an industry conference
in Orlando.
GN Store Nord obtained at least 20 percent more new
costumers in the United States in the first two weeks of March
compared to same period in February, thanks to their launch of
Resound Linx late February.
Resound Linx is a hearing aid packed with bluetooth-like technology
that installed in the ear allows users to stream voice and music
from their iPhones.
"The first data indicates that Resound Linx has been very well
received in the U.S. Market," head of investor relations Michael
Bjergby told Reuters on Friday, after the presentation which
analysts from both Danske Bank and Nordea called 'very bullish'.
In 2013 GN Store Nord's hearing aid business, GN Resound, generated
46 percent of its revenue in the U.S. market, while 31 percent came
from Europe and 23 percent from other markets.
"It is a clear signal to investors about a big demand in the market.
There is potential for a surprise in connection with their
open-ended guidance for 2014, "Sydbank analyst Morten Imsgard said.
This year GN Resound expects organic growth of more than 6 percent.
Still, some analysts remain skeptical about the demand in the
company's over 65 target base.
"It is still early days and we believe the market has changed and
it has become more difficult to significantly move market share in a
short period of time with a new product," Nordea wrote in a note to
clients.
Danish competitor William Demant has also joined the "Made for
iPhone programme".
Shares in GN store Nord rose 2.2 percent at 1032 GMT outperforming a
1.2 increase in the Copenhagen stock exchange's benchmark index.
