JVC Gulf, which has launched 30 new products across its flat-screen, video and audio ranges, aims to become a regional powerhouse in the realm of flat screen, audio and video.
The line-up includes eight new mini-DV camcorders, eight new TVs, JVC's latest mobile mini-PC laptop, three DVD recorders, seven DVD home theatre systems, including the innovative Wood Cone DVD system, and the first three products from JVC's EXAD range, offering the best in high-end in-car entertainment.
Yoshikazu Yamamoto, president of JVC Gulf, said the company intends to revitalise the brand across the Mediterranean, Africa, the Middle East, Central and West Asia.
"JVC is a well-known brand and the time had come to elevate its standing in the consumer electronics community," said Yamamoto.
JVC's regional sales growth has seen revenues rise from $100 million in 2001 to $200 million last year - an average year-on-year growth of 50 per cent. The company anticipates this level of growth to continue and the revenues to grow to $300 million by 2006.
Yoshiki Matsushima, general manager, sales, JVC Gulf, said: "We intend to enhance our regional perception and grow the brand's rightful stature as an innovator and a regional powerhouse in audio, flatscreen and video products."
He said while all JVC product categories had shown steady and healthy growth last year, the largest contribution to sales growth came from the car audio and camcorder.
Yamamoto told Gulf News that JVC has come closer to the market leader in camcorders where his company controls close to one-third of the market share in the UAE.
"JVC's market share in the UAE's audio and video market share currently should be above 10 per cent," he said.
Matsushima noted that there was a dramatic market shift from VCD to DVD players across the region last year, heralding a new era in home entertainment.
JVC experienced a 100 per cent increase in its DVD home theatre system sales last year and the company sees this as a continuing trend. "We are targeting a three-fold increas in sales of DVD systems for 2004."
Gulf News
