Monday, February 10, 2014

Cochlear's Profit Slumps

Share of Cochlear, Ltd. fell on the Australian stock market after the implant maker announced a 73 percent fall in profits. That includes cash set aside over a patent dispute, which you can read about here. But even with that money set aside, profit still fell 53 percent. Cochlear is the world's largest maker of hearing implants with about two-thirds of the world market. It's most recent device is the Nucleus 6, which allows users to connect wirelessly to smartphones. While U.S. regulators approved the device, not all of it's feature go through regulators. Rivals include Sonova, MED-EL, and Neurelec.