Financial Daily from THE HINDU group of publications
Thursday, Jul 14, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 14, 2005 |
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Marketing
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New Products & Services Korean audio major launches Iriver product range Our Bureau
Bangalore , July 13 KOREAN major in portable digital audio and visual devices ReignCom on Wednesday has announced the launch of Iriver products in India. It has entered into an exclusive distribution alliance with Salora International. With a sizeable market share of 60 per cent outside its country, ReignCom with an overall global sales of $430 million last year, decided to focus on emerging markets such as India, SAARC, West Asia and Africa. ReignCom has projected market potential of 0.79 to 1.11 million pieces of the personal digital entertainment devices in India in the next years. Mr Henry Kim, Vice-President of ReignCom, said India would be a major contributor to the estimated revenue of $44 billion from MP3 devices by 2007. Mr Kim and Mr Kapil Dutta, Business Manager, Iriver, India, said that the competitive price with accessories attached to the device against the options offered at a price by others was the key differential in Iriver. Mr Dutta said, "Anticipating the growth and the spend boom in India, it is expected that the digital devices market could cross one billion by 2009. While this would be the key driver, rapidly improving broadband penetration and bandwidth speed, proliferation in personal computer population the large population of under 35 years should give an impetus to the MP3 accessories. Mr Gopal Kumar Jiwarajka, Managing Director of Salaora International, said 18 models of Iriver products would be introduced now with a few more slated in the next two months. They would be distributed through 400 Tier I and 10,000 Tier II retail outlets in India.
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