The William Demant Group, parent of Oticon hearing aids and other brands, reported 11 percent revenue growth in the first half of 2015 compared to the first half of the previous year, driven by strong performance of its new sound processing platform, especially in the U.S.
In reporting first-half revenue of DKK 5,043 million ($750 million USD), the Denmark company said hearing aid sales in the U.S. grew by nine percent, and that its hearing implant business — Oticon Medical’s worldwide bone-anchored hearing aid implants and its new cochlear implant business currently based in France — grew by 11 percent in the half.
In its news announcement, the company said its new premium-performance Oticon Inium Sense sound processing platform helped win customers, especially among independent audiologists who are increasingly facing competition from large retailers such as Costco, which offers lower prices but less sophisticated high-end hearing aids.
The group reported that its operating profits of DKK 880 million ($131 million USD) were supported by stronger wholesale selling prices for its hearing aids.