Sharp aims at doubling Mideast sales in 3 years

Sharp Middle East's new managing director, Tomio Isogai, unveiled the new strategy during a Press conference in the Mall of the Emirates yesterday, focusing on business expansion and a revamped product mix.

Sharp in the Middle East currently has a sales turnover of $200 million, which should grow to $500 million by 2008, according to Isogai. The Middle East accounts for less than five per cent of Sharp's global sales, excluding Japan. The aim is to increase this to seven per cent in 2007 and boost sales to 10 per cent in 2008.

Sharp now has of 50 people working in the UAE and it is planning to increase this to an unspecified number. "We are looking to see if we could establish a new base here, maybe even for manufacturing certain products, but we have to keep in mind the regional realities," said Isogai.

"Whether it is geographic presence, shelf visibility or customer reach, the market will witness a much more forceful approach from us in the near future," he said. "We have been phenomenally successful in the region till now but growth opportunities and market dynamics require a stronger thrust in this area," he added.

According to Isogai, a renewed vigour is needed in choosing the products that meet the distinctive needs of the region. This means localising and customising product-lines to maximise opportunities for revenue growth. "What we lacked in the past was market strategy", said Isogai. The three categories on which the company will focus will be LCD televisions, eco and earth-friendly products and business-to-business products.

Sharp's sales of LCD televisions already represents one of the highest growth products in the region, and the firm is determined to replicate its global leadership status in LCD televisions in the Middle East. The brand's flagship 65" Aquos LCD will spearhead Sharp's growth in that category. Sharp will also invest heavily in household appliances such as air-conditioning, air-purification and refrigeration. The company's flagship refrigerator range was also unveiled.