BenQ hails progress of Middle East operation
Electronics vendor rewarded for firing on all cylinders in the Middle East market.
Taiwanese vendor BenQ has declared the Middle East as its most lucrative market worldwide with its senior management team awarding it the title of ‘Country of the Year’ for the last two years.
The company claims it held a 14% share in the Middle East’s digital projector market, ranking as number two in the region, and almost 10% in the LCD TV market during the final quarter of 2006. The company also reported a 25% growth in revenue compared to the corresponding period in the previous year. “The Middle East is a priority market for BenQ and we are continuing to invest in the strategic resources required to build upon our position as a preferred brand and market leader,” said Adrian Chang, president of BenQ Asia Pacific.
The company aims to expand its regional operations by opening liaison offices in Egypt and Saudi Arabia throughout 2007.
BenQ executives met with Middle East channel partners last month to demonstrate its regional expansion strategy for 2007.
“Digital convergence is driving the consumer electronics industry, especially in high growth markets such as the Middle East, and we are eager to demonstrate to our partners that we have all of the products and solutions necessary to win favour with consumers,” said Peter Chen, vice president of BenQ’s digital media product centre. “We have high hopes for our CP-120 projector which is the smallest wireless digital projector available on the market.”
Commenting on the company’s strong performance in the region, Chen commented that its strategy of promoting fast moving consumer electronics goods was a key aspect to their success in the region.
“Dubai’s reputation as a regional trading hub and low levels of taxation make it a big attraction for tourists eager to purchase consumer electronics goods. I firmly believe this is a major contributing factor to the resounding success of our digital still camera and digital projector ranges in the Middle East.
Chen also stated that encouraging figures in the lucrative LCD TV market meant the company was closing in on its prestigious rivals.
“We aim to leverage the expertise of our 200-strong LCD research and development team to compete with the more established tier-one Japanese brands.
“BenQ will position itself in the market alongside the leading brands as we believe our operations can offer consumers and channel partners a unique mix of cost, quality and convergence,” he said.
The company also used the event to announce its product rollouts in 2007 including 46- and 65-inch LCD TVs to be released in Q3 and Q4 respectively.