GN to gradually wind-down its Elite and Talk product lines. Strong performance in the Hearing division to partly off-set the extraordinary impact from the gradual wind-down [Yahoo! Finance...
GN STORE NORD A/S ADR (GNNDY)
NASDAQ:AMEX Investor Relations:
gn.com/investor
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Source: Yahoo! Finance
As communicated at the Capital Market Day in May 2024, GN is striving to build leading businesses in attractive markets and by this grow with healthy margins and ensure good returns on the invested capital. The re-focusing of the Elite product line towards the premium segment, which was initiated in 2023, has resulted in a stronger profitability level than before. However, the investment required for future innovation and growth in this very competitive space is deemed unjustified in the long-term given associated risks. The Talk product line follows a similar logic and is positioned in the declining mono Bluetooth market. Consequently, following a thorough business review the decision has been taken to gradually wind-down both the Elite and Talk product lines. Peter Karlstromer, CEO of GN Store Nord, comments: “The decision to gradually wind down the Elite and Talk product lines is part of our commitment to focus on attractive markets where we can deliver profitable growth and s
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