The world's largest hearing implant maker Cochlear Limited (COH) has missed market expectations with its first half profit, due to the staggered launch of its...

The world's largest hearing implant maker Cochlear Limited (COH) has missed market expectations with its first half profit, due to the staggered launch of its newest device, which had been seen as a key stepping stone in rebuilding the company's profit and reputation. Profit for the six months to December 31 2013 came in at $21 million, down 73% from the prior corresponding period and well below expectations. Total revenue fell 5% to $371 million while earnings fell 54% to $49 million. COH's latest device, the Nucleus 6, which allows users to connect wirelessly to smartphones, received regulatory approval in Europe and the US last year, however not all of the product's features were approved impacting the release of the device in key markets. Summary of results available here: (VIEW LINK) @jsaly @commsec