e-loam eyes GCC market for profit

IT firm e-loam is looking to the Middle East to bolster its falling revenues as profits from Europe, its largest market, collapsed 10% in the wake of the recent global downturn.

Tags: ChinaUnited Arab Emiratese-Loam Technology
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By  ITP.net Staff Writer Published  October 20, 2009

IT firm e-loam is looking to the Middle East to bolster its falling revenues as profits from Europe, its largest market, collapsed 10% in the wake of the recent global downturn.

The China-based company, best known for its webcam products, is feeling the pinch in Western markets, but will face tough competition from rival Chinese firms in the Middle East , a spokesperson tells GITEX Times.

"We've seen a 10% drop in business in Europe - in the US and Europe the economic crisis has had a huge impact," he says. "There has been little effect on the Middle East, aside from an increase in demand for lower-priced products, so many Chinese firms are hoping to grow their business here."

e-loam, which is making its second appearance at GITEX Technology Week, derives 90 percent of its revenue from webcams. The firm is banking on interest in its high-speed scanners to help diversify its business base. The devices, which were unveiled to the local market on Sunday, take just one second to scan an A4 document, compared to existing scanners which require up to one minute per page, the spokesperson says.

"Our main customers are hospitals and banks, which require quick scanning of records, identification and other documents. The free-standing design also means it can scan objects and not just flat pages, and it only needs to be connected to the computer, no external power supply is needed."

The company, which was established in 1998, is hoping to establish links with regional distributors and retailers this GITEX, in a bid to push its own-brand products into local stores.

"We want to expand our market, and find new partners for our own-brand goods. We want distributors and retailers to sell our own-brand products to end-users, because we believe this market has growth potential," adds the company's spokesperson.

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