The month of January in the Hearing Aid Industry has become the time of the year when new models are introduced to the marketplace as though they were new cars.
Different size cases, different colored cases, different shapes, different designs, anything to make a Hearing Aid look different than what it really is.
They are now being designed to make older Folks feel younger, and young People to feel Cool.
They look like Blue Tooth devices.
Young Models with Young Bodies.
Sell the Image. Not the Benefit.
Its the Profit, ***.
The products are now being manufactured and assembled in China and Vietnam,Singapor, and every other 3rd World Country.
Even the low wage Economy in Poland has become too expensive.
The Hearing Aid Companies are proud to announce they are pulling out of such high labor Countries.
The problem is, that the savings are not being passed on to the Consumer.
How can a product, a Hearing Aid, that costs less than $50 American Dollars to produce, in such Countries, be brought to the United States and Europe, and be sold for $3,000 to $5,000 each, for the same product.
The Answer is Ignorance, and the Lack of Competition.
At some point, just like in every other market when there has been exploitation, a Company will step forward and make Hearing Aids available at a realistic price.
The answer is the Free Market and Competition.
Where is Warren Buffett when you need him?