Apple’s AirPods Pro update: A threat to hearing aid market?

WEB DESK: Shares of European hearing aid companies fell on Tuesday after Apple announced new hearing aid features for its AirPods Pro 2.

Apple said these earbuds can be turned into a personalised hearing aid with an upcoming software update. This update will enhance certain sounds in real time, like speech or sounds in the user’s environment.

In response to the news, shares of Italy’s Amplifon dropped by as much as 7.2 per cent earlier and were down 5.7 per cent by 0845 GMT. Other hearing aid companies, like Sonova, Demant, and GN Store Nord, also saw their shares fall between 2 per cent and 4 per cent.

However, analysts from Jefferies said Apple’s announcement should not worry hearing aid makers. They explained that over-the-counter (OTC) hearing aids, like those made by Apple, target a different group of people.

Unlike prescription hearing aids, OTC devices don’t match the same level of technology or services, despite being cheaper.

Analysts from Vontobel added that OTC devices usually work for people with mild hearing problems, but they aren’t good enough for people with more severe hearing loss.

Even though Apple’s news caused stocks to drop, some analysts believe it might actually help the hearing aid industry by increasing awareness of hearing loss problems.

Read next: PTA-approved or not, iPhone 16 Pro Max price set to surprise Pakistanis