Samsung aims to acquire 25 percent share of Middle East's audio hi-fi market
Samsung Electronics hopes to grow the company's share of the Middle East audio hi-fi market to over 25 percent in 2004.
According to industry reports, the total market size for audio hi-fi systems in the Middle East and Africa is expected to grow at a steady rate of 10 to 15 percent compared to last year. DVD hi-fi systems are expected to take precedence over the standard VCD hi-fi systems this year, primarily due to lower prices.
“Our wide range of product offerings will be the key driver for our growth,” said Marketing Manager of Samsung Gulf Electronics, Ashraf Sajid. “With the inclusion of these six new models, we now have a total of 11 audio hi-fi models offering a comprehensive range of entertainment solution to customers.”
Samsung Middle East and Africa (MEA) is headquartered in Dubai. Through a network of over 40 distributors, Samsung MEA looks after the distribution of its digital devices across the Middle East and Africa. With revenues of two billion dollars in 2003, the company has also invested in a service subsidiary, located in the Jebel Ali Free Trade Zone in Dubai. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
- Samsung expects vacuum cleaner revenues to grow by 48 percent in Middle East
- Samsung’s sales reach $1.5 million in the Middle East
- Samsung targets Middle East revenues of $2.7 billion in 2004
- Samsung Electronics commences LCD television roadshow in UAE
- Samsung empowers its MEA business partners with COSMOS software