BenQ MEA secures new GCC distribution deals
Taiwanese consumer electronics vendor embarks on regional expansion strategy.
Consumer electronics manufacturer BenQ has appointed new channel partners in the Middle East and revealed the latest additions to its LCD TV range.
The company has signed new distribution agreements with Xpresscell in Kuwait, Doha Communications in Qatar and Ashrafs in Bahrain.
BenQ Middle East and Africa general manager Manish Bakshi said the new deals would play a major role in driving the company’s revenue growth in the Middle East, in addition to it’s global ambition of achieving US$10 billion in sales by 2008.
“LCD TV sales have been buoyant across the Middle East and the soaring demand for LCD screens proves that the future of digital entertainment is flat panel displays and wider screens,” he said.
“Expanding our product line-up and market reach reaffirms BenQ’s commitment to bring technology within the range of the average consumer and expand our portfolio of LCD products.”
Bakshi said the Middle East represented a major growth market for the company, noting that demand for its products in the region outstripped demand from European consumers by two to one.
In terms of sales, BenQ is currently the third largest manufacturer of LCD monitors in the Middle East and also has the second highest share of the regional television projector market, according to BNA and DTC market research respectively.
“The global TV market is forecast to grow from an estimated US$25 billion in sales and 21 million units shipped in 2005 to US$85 billion and over 101 million units shipped in 2009,” said Bakshi.
“This represents 183% growth on shipment units and a 110% growth in revenue. In 2009, for the first time, we expect sales of LCD TVs will outstrip those of CRT TVs. In the Middle East, we expect 226% growth in sales of LCD TVs – total units shipped will increase from 150,000 to 450,000 units by 2009. Saudi Arabia and the UAE will remain key markets."
Bakshi claimed that as one of the world’s top producers of digital displays and scanners, BenQ had made impressive inroads into the Middle East’s consumer electronics and IT sectors.
“The regional LCD TV sector is maturing rapidly and we will keep innovating and updating our product range in order to satisfy consumer expectations,” he added.
The latest additions to BenQ’s LCD TV range sees the company now offering receivers in sizes ranging from 20-inches to 37-inches.
Bakshi claimed the 37-inch model was the only two-megapixel LCD TV currently available in the Middle East and African regions with high-definition resolution of 1920 x 1080.
Meanwhile, BenQ’s 32-inch DV 3250 TV features the company’s Senseye Technology, which is claimed to enhance image contrast and picture quality.
“We expect our TV sales to increase by more than 66% year on year until 2009, driving our overall profitability,” said Bakshi.
“BenQ is committed to the Middle East region and we plan to enlist the support of our channel partners to help us meet the unique demands of consumers in this market.”