Business | Technology
BenQ's MEA revenues up 35% on robust sales
BenQ, the Taiwanese digital lifestyle leader, has reported strong growth in its Middle East and Africa (MEA) operations, registering a 35 per cent jump in second-quarter revenue to $25 million (Dh91.75 million) fuelled by tremendous demand for LCDs, digital cameras and projectors.
- By Naushad K. Cherrayil, Staff Reporter
- Published: 23:35 September 1, 2007
Dubai: BenQ, the Taiwanese digital lifestyle leader, has reported strong growth in its Middle East and Africa (MEA) operations, registering a 35 per cent jump in second-quarter revenue to $25 million (Dh91.75 million) fuelled by tremendous demand for LCDs, digital cameras and projectors.
"We are confident of attaining $100 million [Dh367 million] in revenues for the full year," said Manish Bakshi, general manager, BenQ Middle East and Africa.
The company recorded strong growth in four segments - 47 per cent in LCD TVs, 40 per cent in LCD monitors, 35 per cent in digital cameras and five per cent in projectors.
It claims to enjoy 16 per cent of the projector market, seven per cent of the LCD TV market and 15 per cent of the LCD monitor market in the UAE.
"We are pioneers in adopting the projector DLP technology, which has seen us climb to the number three position globally. We have achieved a 7.40 per cent market share in the first half of 2007, according to results by Decision Tree Consulting," Bakshi said.
In the second quarter, BenQ ranked second in projector sales in the UAE, taking 13.59 per cent of the market share with sales of about 9,644 units. It also sold 7,010 projectors in Saudi Arabia, for a market share of 38.27 per cent.
Citing industry trends and panel resources, Bakshi said the chance of price erosion on fast-moving models such as 17-inch LCD monitors and 32-inch LCD TVs seemed unlikely.
But in all probability, a fall in prices can be expected for high-end models such as the 20-inch, 22-inch LCD monitors and 37-inch and 42-inch LCD TVs.
"The region contributes more than eight per cent to the group's growth and is one of the fastest growing markets enjoying highest sales growth worldwide," Bakshi said.
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