Logo of Swiss hearing aid maker Sonova.
Credit: Reuters Photo
Switzerland's Sonova on Tuesday introduced a hearing aid that utilises real-time artificial intelligence to improve speech clarity from background noise, the first such product in the global market.
Along with the hearing aid, named Sphere Infinio, Sonova is launching a new Infinio platform.
Sonova had said in May it expected major product launches to drive sales and profit growth in the second half of its fiscal year, without providing further details.
"The launch of both new platform and product should be a surprise to the market, because nobody knew this technology and this benefit (real-time AI), which is quite significant, will be available for anyone already this year," CEO Arnd Kaldowski told Reuters in an interview.
Kaldowski reiterated that Sonova's second-half results were going to be stronger on a year-on-year basis, and confirmed its full-year outlook.
Sphere Infinio uses new DEEPSONIC chip technology that has 53 times more processing power than what is currently used by the hearing aid industry, the company said in a statement.
Sonova views Infinio and its existing Lumity platform as the main future growth drivers for its hearing instrument business, which brings in around a half of its total sales.
The hearing aid industry has been showing signs of softer market dynamics in Europe and the U.S., while analysts have also flagged tough competition in the market.
A number of hearing aid firms, including Italy's Amplifon and Denmark's Demant and GN Store Nord , have warned on profits this summer, citing volatility on the market.
"We will need to see how the market evolves and the customer reaction to the products. But we are good with our full year guidance even with the currently somewhat slower market," Kaldowski said.