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Hearing-aid maker Phonak India Pvt Ltd is betting on smaller towns and rural market to push its sales in India. The company is a wholly-owned subsidiary of the Switzerland-based global hearing instrument major Phonak AG.
“Rural India and tier-III cities are expected to be our main growth drivers. We are open to the idea of lending equipment to set up hearing aid clinics. We will also provide necessary training to professionals, if required,” Mr Sanjay Bagati, Managing Director, Phonak India, said.
According to the company, nearly 12 per cent of Indians are suffering from varied degree of hearing impairment. Phonak has lined up 200 clinics by providing them with necessary audiometric equipment and is looking to add 1,000 more centres in the next two years.
The Swiss manufacturer offers both wired and non-wired hearing aids – each worth Rs 700 to over Rs 2 lakh – in the Indian market.
During 2009-10, Phonak sold around four lakh such hearing aid units in India, of which 2.5 lakh were wired units.
The company expects to end this fiscal with Rs 26.5 crore sales and is looking forward to 40 per cent growth in revenues in the next fiscal.
Siemens is reportedly the single largest player in hearing aid market in the country with 25 per cent market share.
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