Tech giants enter the hearing aid market, driving industry transformation.

Apple, iFlytek, Tencent, and other tech giants have recently announced their entry into the hearing aid market, signaling a transformation in this long-dominated industry.

For a long time, the hearing aid market has been controlled by six major groups (Signia, Phonak, ReSound, Oticon, Widex, and Starkey), which together hold over 95% of the global market share. These groups have maintained high gross margins of 55%-75% through high prices and bundling strategies.

However, the involvement of tech giants is changing this landscape. Apple's AirPods Pro has received FDA approval as an OTC hearing aid; iFlytek has partnered with Bo'in Hearing to launch an O2O fitting solution; Tencent has released a one-stop hearing aid solution that improves clarity and intelligibility by 85%.

These innovations not only lower the price of hearing aids but also simplify the purchasing process. For example, OTC hearing aids in the U.S. now range from $99 to $3,000, far below the previous average price of $4,700.

In China, the entry of tech giants has also driven market education and technological advancement. Zhitin Technology, backed by Xiaomi, has sold over 5.21 million hearing aids on the Xiaomi Youpin platform; iFlytek has become the top-selling brand in the hearing aid category on both JD.com and Tmall.

Although online channels simplify the purchasing process, the unique nature of hearing aids (requiring personalized tuning and usage guidance) still necessitates offline support. Therefore, most companies opt for a dual "online + offline" channel strategy.

Overall, the involvement of tech giants is breaking the monopoly in the hearing aid market, driving the industry towards greater accessibility and convenience.