Sonova CEO: Demographics Favorable, Swiss Franc Strength Painful - Video - TheStreet

Sonova CEO: Demographics Favorable, Swiss Franc Strength Painful

The hearing aid sector has huge potential because only 20% of those who could benefit use them, said Lukas Braunschweiler, CEO of Sonova.
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The hearing aid sector has huge potential because only 20% of those who could benefit use them, said Lukas Braunschweiler, CEO of Sonova. Braunschweiler added that the market for cochlear implants is even less penetrated with adoption rates around 6%. Sonova recently acquired Hansaton, a German hearing aid manufacturer to increase the company’s global footprint as well as reduce the effect of the Swiss Central Bank’s recent decision to un-peg the Franc. Sonova also announced in early March that it will shift jobs out of Switzerland and freeze pay for Swiss staff as it cuts costs to cope with the surge in the value of the franc saving the company around 5% of its annual Swiss costs.