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It was once in Samsung’s sights, now this Australian company is battling to survive

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Australian smart earbuds maker Nuheara was most recently valued at about $22 million and was once a takeover target for Samsung.

Australian smart earbuds maker Nuheara has fallen into voluntary administration after failing to reach a commercial deal with its business partner, Taiwanese semiconductor giant Realtek.

“This decision was taken by the board to best enable the company to conclude its ongoing strategic review, given the impending maturing of its $2.5 million convertible note. This convertible note is held by Realtek and has a maturity date of September 7, 2024. The company is disappointed that it has been unable to reach a satisfactory commercial agreement with Realtek regarding the convertible note.

“Nuheara’s next-generation hearing medical device featuring a single chip solution, means reduced size and increased performance to meet, and some instances exceed, the performance of much more expensive products from the five global hearing aid manufacturers,” he said at the time.

 

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