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Samsung seeks 25pc share of Mideast audio hi-fi market

DUBAI - Samsung Electronics yesterday said it was positioned to consolidate and grow its share of the regional audio hi-fi market to over 25 per cent in 2004 following the launch of a new range of audio hi-fi models.

H.J. Park, Senior Manager, Sales and Marketing, Samsung Gulf Electronics, said the new range would take the total number of Samsung hi-fi models to 11.

"Samsung has consistently been acclaimed as the pioneer in establishing technology and core competency benchmarks in the audio/visual industry. The unprecedented expertise that Samsung has harnessed over the decades will now be applied to all our audio hi-fi digital systems and will enable us to consolidate our dominant position and grow the company's market share to 25 per cent by the year end," said Park.

According to industry reports, the total market size for audio hi-fi systems in the Middle East and Africa is expected to grow at a steady 10 Ð15 per cent compared to last year. DVD hi-fi systems are expected to take precedence over the standard VCD hi-fi systems this year, primarily due to lower prices.

"Our wide range of product offerings will be the key driver for our growth. With the inclusion of these six new models, we now have a total of 11 audio hi-fi models offering a comprehensive range of entertainment solution to customers. Fulfilling our commitment to acquiring 25 per cent regional market share and playing a pioneering role in establishing the DVD format, we further plan to introduce new first-of-a-kind DVD hi-fi system this year," said Ashraf Sajid, Marketing Manager, Samsung Gulf Electronics.

Samsung's MAX-VS990FH flagship model features a sound output of 8500 PMPO Ð benchmarked highest in the world Ð in addition to including functions such as 3CD changer and VCD, CD, CD-R, CDR-RW and MP3 playback. Other models featured come under the DVD hi-fi category, a segment that Samsung expects to grow rapidly due to a strong customer shift