Wearable tech company expands into major Japanese retail stores

Wearable tech company expands into major Japanese retail stores

Listed tech company Nuheara Limited (ASX: NUH) has announced the launch of its products in major Japanese consumer electronic stores.

At an exclusive media event held in Tokyo, Japan, Nuheara announced its IQbuds and IQbuds BOOST products will be sold in most major electronics stores in Japan.

The company signed an agreement with Value Trade which will distribute the group's products across more than 5,500 consumer electronics retail stores across the country.

The first phase of Nuheara's product rollout in Japan will commence immediately, with 218 stores to start selling the products.

The company launched its wireless earbuds, IQbuds, in 2016. The product allows customers to augment their hearing according to their personal hearing preferences and connect hands free with their voice enabled smart devices.

Nuheara products will be stocked in some of Japan's biggest electronics stores like Yodobashi Camera, Ysamada Labi, Bic Camera, Loft, Tsutaya Electrics, and Tokyo Hands.

Nuheara will roll out phase two of its expansion plan in early 2019, stocking more stores with its products as well as engaging specialist hearing and optical retailers like Aigan Optics, Megane Ichiba, Paris-Miki, Megane Super, Megane Tanaka, and Washin Optical.

Following the completion of phase two, Nuheara will be available from 2,500 retail locations in Japan.

The company was the first consumer wearables technology business to be listed on the Australian Stock Exchange.

Nuheara CEO Justin Miller says it is validating for the company to be recognised by the tech-savvy Japanese customers.

"It is an excellent endorsement of our company's capability and future," says Miller.

"Australian researched and developed technology products are now being exported to Japan; a country that is widely regarded as the most technologically savvy and the leader in the consumer adoption of the most innovative products."

"Value Trade has provided Nuheara with a strong foundation from which we can now launch."

In addition to the export announcement, Nuheara says it was proud to receive three prestigious Japanese consumer elextronic VGP awards, two for IQbuds and a further award for IQbuds BOOST.

Shares in Nuheara are up 6.9 per cent to $0.09 per share at 10.07am AEST.

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