You can see the list of chipsets from Qualcomm they produce...

You can see the list of chipsets from Qualcomm they produce something for each price point https://www.qualcomm.com/products/audio/headphones-headsets-earbuds/product-list. Electronics are not the main concern anymore. It has changed a lot since NUH started 5 years ago. Due to the large market for true wireless earbuds the game has shifted. So the main thing is to build systems and have the right app, software, ability and understand the market. For a small company like NUH who try to pull way above their weight, it is still difficult with hardware since you would not have access to the support you need to move from chipset to product. If you need to learn every generation of hardware you will be very busy when you are of NUH's size. I have no insight into their design so I cannot say if their hardware is too complex or has too much legacy which makes it expensive to manufacture. But consumer electronics needs continuously be updated. My thoughts are with Julie that the company ought to be 20-30 times revenue that is my reason for investing. They have shown good progress and ability in many respects.