Sees Increasing Income Levels Accelerating Consumer Electronics Uptake in the region
Unveils 2005 Flagship Product Range including GZ MC 500 Hard Disk Camcorder, HD-ILA (720p) Rear Projection TV at 'JVC Experience 2005'
Dubai - JVC Gulf FZE (JGF), a wholly-owned subsidiary and the regional headquarteres of the Japanese consumer electronics major, Victor Company of Japan Ltd, today announced that its regional revenues in 2004-2005 have grown by a significant 20 per cent to reach US$ 250 million.
Making this announcement at a press conference held on the side-lines of 'JVC Experience 2005' - the largest stand-alone consumer exposition in the region by a consumer electronics company - senior officials of the company from Dubai and Japan also outlined the company's future growth strategy, which is expected to see the company consolidate and grow its strong position regionally and within several key product categories and lines.
Commenting on the company's performance in 2004-2005, and placing them in perspective with global trends in the consumer electronics space, Mr. Yoshikazu Yamamoto, President, JVC Gulf FZE said: "We are proud to announce that despite increased competition and pressure on price lines, JVC has registered a growth of 20 per cent in its revenues from the region. This is all the more significant given the fact that the conusmer electronics indutsry, both in the region and globally, is experiencing a slow down."
Mr Yamamoto, attributed this success to the excllent overall performance especially highlighting the increased contributions from Flat panel displays, DVD and Digital Video Camera product categories. "Another important factor that has contributed to this growth has been the rapid expansion in our dealer and distributor network especially in the key markets of UAE, Saudi Arabia, Iran."
In 2004-2005, JVC Gulf's distributor base grew from 51 to the current 60 across the region..
Further commenting on JGF's growth forecast and attributing it to the huge potential the Middle East market holds for the consumer electronics sector, Mr. Yamamoto said: "We are confident of increasing our growth by as much as 25 per cent in the next year. The Middle East has one of the highest per capita incomes in the world, which is further expected to increase due to the exponential growth that economies in the region are experiencing. We believe that a steep increase in disposable incomes will result in a larger in-flow into the regional consumer electronics market."
"Also, given the growing propensity among consumers in the region for the latest innovations, it is only natural that consumer electronics companies that are in the forefront of offering greater technology and design attributes in their product ranges will benefit from higher growth levels."
JVC recently announced its plan for a major thrust on its marketing effort in the region with an aim of capitalizing on the huge potential for growth and enhancing mindshare in the consumer electronics space in the region over the next one year.
"With our new marketing focus for the entire region, and coupled with the launch of our 2005 flagship product range, we expect to boost our regional market share substantially," Mr. Yamamoto said.
Unveiling the JVC flagship products for this year at the 'JVC Experience 2005,' Mr. Nobuyuki Miyahara, General Manager-Sales & Marketing, JVC Gulf FZE, said that in the light of the potential of the Middle East market and the high level of sophistication of the regional consumer, JVC has always believed in launching its state-of-the-art products that incorporate cutting edge technology simultaneously in the region.
Commenting on the growth areas he said that High Definition Rear Projection TVs, Flat Display Panels, New Concept Camcorders and audio products would be the key focus areas for JVC.
In the camcorder market that has generally not been considered a star segment, JVC sees a huge potential and plans to grow the market segment as a whole with the launch of the first ever 5 mega pixel, 3 CCD, Hard Disk Camcorder - GZ-MC500. A multi-functional camera, GZ-MC500 features JVC's exclusive chip technology (CODEC), which globally is the smallest chip in its category.
Further commenting on the newly launched DX-T series from the Audio product line-up of JVC products, Mr. Miyahara introduced its flagship model DX-T9. It boasts of the highest output of 12,000 watts PMPO and innovative features such as Karaoke Scoring, Mega Power concept and combines the features of a Home Theatre system with that of a Mini Audio System. It also has a new age modular and functional design to give it a 'Kool' and 'Stylish' appearance.
In the area of LCD CTV, where the global demand is expected to increase dramatically from 7.8million units in 2004 to 13.5million units in 2005, JVC expands its lineups from 17inch to 37inch with introduction of 7 new models.
Commenting on JVC's new LCD line-up, Mr. Yoshiki Matsushima, General Manager-Flat Panel Display Division, JVC Japan said, "The most impressive and innovative among those new models is new 37inch LCD CTV which incorporates JVC exclusive "Clear Motion Drive" circuitry. This JVC's unique and high quality technology increases reponse speed of moving object by doubling frame rate from 50 to 100 per second and thus eliminates brurring of object moving across screen."
Elaborating on the technicalities of the HD-ILA, JVC's High Definition Rear Projection TV to be launched in the region later this year, Mr. Matsushima said, "Under our flagship HD-ILA range of Rear Projection TV's we are introducing two new 70inch and 56inch models. Both models incorporate the D-ILA (Direct-drive Image Light Amplifier), a JVC original high-definition micro display device. These new models will not only enhance JVC's already outstanding Flat Panel Display line-up, which includes plasma and LCD TVs but will also answer the rapidly growing need for higher definition in the upcoming wave of HD broadcasting."
Currently open at the Hotel JW Marriott in Dubai, 'JVC Experience 2005', is the largest stand-alone consumer expo in the region by a consumer electronics major. The four-day expo steered by top executives of JVC, and attended by its distributors and dealers across the region, will showcase the company's latest and best-of-the line product range in one place. It will also offer a rare opportunity for the consumers to get a first hand "look and feel" of the new JVC 2005 product line-up even before it hits the market. The expo will be open for consumers from 6PM-10PM on Thursday, 26th May'05 and 10AM-10PM on Friday, 27th May'05.
Other products, from JVC's new 2005 product line-up included High-Band Digital Video Cameras (GR-DF570/DF470/DF430 & GR-D290/D270/D250), Mini Digital Video camcorder (GR-X5 - 3-CCD), Mega Power DVD Compact Component System (DX T7 & DX T5), DVD Compact Component System (EX-D5, EX-D1 & EX-A5), Mega Power DVD Digital Cinema System (TH-C9), LCD TVs (LT-20A5, LT-17S2, LT-23S2, LT-Z26SX4, LT-Z32SX4, LT-Z26SX5, LT-Z32SX5 & KD-SHX855), CD/SD Car Audio Systems (KD-LHX555) and High-end DVD/CD car receiver systems (KD-AV7005, KD-AV7001 & KD-AVX1).
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About JVC Gulf FZE
JVC Gulf (JGF), a wholly-owned subsidiary and the regional headquarteres of of The Victor Company of Japan Ltd, commenced operations in Jebel Ali Free Zone, Dubai in 1994 to oversee the distribution of JVC products in 80 countries in the region comprising the Middle East, Africa, West Asia region and CIS countries. A decade later, it has become a success story for others to follow.
Looking to improve the lives of customers and create truly moving experiences through superior technology, JGF has constantly strived to live up to the brand's promise of 'The Perfect Experience'. Keeping the focus on innovation as the key driver, it introduced cutting-edge products in the region in tandem with their launches in other countries.
JGF has a wide range of products in its Consumer Products Division and also offers some hi-tech models in its Professional Products Division.
The Consumer Products Division currently markets products in the following categories: Digital Video Camcorders, VHS-C Camcorders, Digital Still Cameras, Super VHS - VCR's, VHS - VCR's, DVD's, Colour Televisions, Home Audio Components and Systems, Personal Audio Systems, Mobile Entertainment Products and Recording Media. It is also creating new business opportunities by strengthening its lineup of high-value products which incorporate digital technology.
The Professional Products Division distributes a complete line of broadcast, professional and presentation equipment, including cameras, media products, editing equipment, visual presenters, monitors and computers.
For further information please contact
Jaykrishnan B / /
Percept Profile Gulf
Tel: 04 3446373
Fax: 04 3429158
Email: info@perceptprofilegulf.com
Nikhil D'Rozario
Percept Profile Gulf
Tel: 04 3446373
Fax: 04 3429158
Email: info@perceptprofilegulf.com
Eyad Mohammed
Percept Profile Gulf
Tel: 04 3446373
Fax: 04 3429158
Email: info@perceptprofilegulf.com
© Press Release 2005
