In this piece, we’ll take a look at some of the notable hearing aid companies in the world. For more such companies, go to Top 10 Hearing Aid Companies and Brands in the World.
5. Sonos, Inc. (NASDAQ:SONO)
Annual revenue: $1.7 billion
Sonos, Inc. (NASDAQ:SONO) is an American company that designs, develops, and sells wireless music solutions for home audio systems. Wireless speakers, home theatre speakers, and components are among the products offered by the company. Sonos devices are sold through traditional retail stores, distributors, and online merchants. Sonos Roam, a portable speaker, is part of a Sonos multi-room system that has greatly aided those with hearing impairment. The company’s revenue in the fiscal year 2021 stood at $1.17 billion.
Sonos, Inc. (NASDAQ:SONO) made an appearance in Aristotle Capital Management‘s investor letter for this year’s first quarter, with the fund stating that:
Sonos (NASDAQ:SONO), a consumer electronics company with proprietary multi-room smart speaker technology, was added to the portfolio on the belief that strong consumer demand for the company’s differentiated product offering plus a multi-year pipeline of upcoming new product introductions are expected to drive shareholder value for the next several years.
4. Oticon
Annual revenue: $1.9 billion
Headquartered in Copenhagen, Oticon is the world’s second-largest producer of hearing aids. The company provides pediatric devices and bone-anchored hearing for adults, teens, and children with hearing loss. Oticon introduced the world’s first internet-connected hearing aid Oticon Opn in 2016. Oticon has more than 3000 employees globally. The company generated sales of $1.9 billion in 2021.
3. Starkey Hearing Technologies
Annual revenue: $2.1 billion
Starkey Hearing Technologies is one of the world’s largest hearing aid manufacturers. It designs and sells hearing aids that are smartphone-compatible, receiver-in-canal, behind-the-ear, invisible, and other hearing aids. Audibel, NuEar, and Starkey are the company’s three brands. The company employs over 5000 people and generated $2.1 billion in sales in 2021.
2. WS Audiology
Annual revenue: €2.05 billion
WS Audiology manufactures industry-leading digital hearing aids through its cutting-edge design and development process. The company was established in 2019 following a merger of Widex and Sivantos in an $8 billion deal. The company manufactures one in every three hearing aids worn across the globe. Some of the company’s leading brands include A&M Hearing, audibene, bloom, and hear.com. WS Audiology reported revenue of €2.05 billion in fiscal 2021.
1. Costco Wholesale Corporation (NASDAQ:COST)
Annual revenue: $195.9 billion
Costco Wholesale Corporation (NASDAQ:COST) maintains a global network of membership warehouses. It sells branded and private-label stuff in a variety of merchandise categories. Costco Hearing Aid centers is a member-based hearing center service that offers free hearing tests, hearing aid cleanings, and low prices on high-quality hearing aids. Hearing aid options available at Costco include open-fit, behind-the-ear, in-the-ear, canal-fit, and custom-molded devices. Costco Wholesale Corporation (NASDAQ:COST)’s revenue during the fiscal year 2021 was reported at $195.9 billion.
Cooper Investors shared its outlook on Costco Wholesale Corporation (NASDAQ:COST) in its Q3 2022 investor letter. Here’s what the firm said:
The US economy continues to run hot – the labour market is extremely tight and a number of executives we spoke to described their challenges in retaining staff and preventing competitors from poaching talent. Industrial companies in particular continue to see record backlogs, with the easing of logistics and supply chain constraints only just starting to have an impact on deliveries and lead times.
In terms of inflationary pressures, the vast majority of our holdings have been able to leverage strong market positions and stakeholder relationships to push pricing through in 2022 such that minimal impact to earnings has occurred. Clearly this is not a lever than can be pulled indefinitely but the more experienced management teams have kept some of their powder dry. Our meeting with management at Costco in Seattle was memorable for several reasons but one was their latent ability to increase member pricing which they have not done in over 5 years (and thus likely to do in 2023)…
…To conclude we’ll return to our meeting with Costco mentioned earlier. The business quality is no secret after decades of incredible execution, but the meeting gave us renewed conviction around Value Latencies in terms of the runway for growth, the focus on enhancing customer value, Costco’s vast buying power (it purchases 30% of the world’s jumbo cashews as one example) and management’s feral focus on the business model and cost discipline.
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