Riyadh: Sony Gulf and Modern Electronics Company Limited (MECL), sole distributors of Sony products in Saudi Arabia and a subsidiary of the Al Faisaliah Group, celebrated the 40th anniversary of their strategic alliance on Wednesday in Riyadh.
The celebration was a dazzling event that was a tribute to Sony's technological leadership and long-standing respect in the minds of the Saudi consumer.
Prince Mohammad Khalid Al Faisal, President and CEO of the Al Faisaliah Group, and Sir Howard Stringer, Chairman, CEO and President of Sony Corporation, were guests of honour.
The event was also attended by business partners, reporters as well as senior officials from Modern Electronics Company Limited and Sony Corporation.
Addressing a press conference on this occasion, Prince Mohammad Khalid Al Faisal said: "We are proud that our partnership with a leading global Fortune 500 company such as Sony Corporation enables us to bring to our consumers in Saudi Arabia, innovative and superior quality products, with cutting-edge technology.
Passion for excellence
"Coupled with an advanced sales and service network, we at Modern Electronics Company shall constantly strive to bring to our customers truly joyful experiences that come with our passion for excellence."
Sir Howard Stringer said: "Our four-decade partnership with Modern Electronics Company Limited and the Al Faisaliah Group has served as a benchmark for our expansion into the Middle East and Africa region.
"Sony has been involved in the creation of many ground-breaking technologies and innovative products, and this partnership over the past 40 years has consistently helped us maintain our growth and enhance our presence in Saudi Arabia."
In response to a question from Gulf News about the sales of Sony 3D televisions, Prince Mohammad noted that sales in the Saudi market will increase by 70 per cent this year.
Sir Howard revealed that Sony's global sales reached $78 billion (Dh286.45 billion) by the end of March 2010, and that the Middle East accounted for $20 billion.
Unrest
About the impact of the current unrest in some Arab countries on Sony's sales, Sir Howard said Sony has substantial activities in Tunisia, Egypt, Oman, Bahrain and others, and that sales were affected but have begun to return to their pre-unrest levels.
Prince Abdullah Al Faisal founded the Al Faisaliah Group in 1970.
As part of the group's direction, he established the Modern Electronics Company Limited and partnered with Sony to open the first Sony showroom in Jeddah in 1970.
Today, the Sony brand is represented in over 39 exclusive outlets and 500 multi-brand stores in Saudi Arabia, distributed through Modern Electronics.
It is a testimony to the strength of this alliance that together, the market share stands at over 35 per cent of the Saudi consumer electronics segment.
Over the years, Sony and Modern Electronics Company Limited have jointly conducted several innovative campaigns that reinforced their credibility as a brand of preference.
They include the annual marketing promotions such as the Sony Ramadan Festival campaign launched in 1990 and the Sony Creative Science Award initiated in 2005.
These initiatives have become popular annual events in Saudi Arabia.
The year 2007 was dominated by the demand for high-definition televisions and the highlight for 2010 was the introduction of the Sony 3D World Experience in Saudi Arabia.
Sony established itself as the industry leader in 3D entertainment and is the only company to cover the entire 3D value chain and will continue to drive the industry forward by leveraging its strengths in hardware innovation and content expertise.
Sony Gulf FZE is a 100 per cent subsidiary of Sony Corporation and is the regional headquarters for Mena.
The company is engaged in the business of Sony consumer electronics, VAIO laptop computers, computer peripherals, data media, recording media and energy (batteries), mobile electronics (car audio) and computer entertainment (PlayStation) products in more than 40 countries in the region.
