Financial Daily from THE HINDU group of publications
Sunday, Jul 17, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 17, 2005 |
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Corporate
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Announcements Marketing - Channels and Franchises Salora International in distribution tie-ups Our Bureau
Mr Gopal Jiwarajka, Managing Director, Salora International, flanked by model and cine actress, Ms Manpreet Brar, and Mr Henry Kim, Vice-President of ReignCom, Korea, at the launch of iRiver's new digital audio-visual device and new electronic products in India with an exclusive distribution and service tie-up with Salora International Ltd in the Capital on Saturday. — Kamal Narang
New Delhi , July 16 SALORA International Ltd on Saturday said that it had entered into a supply and distribution agreement with a Malaysian company (who are the main distributors for TEAC Corporation, Japan) to distribute consumer electronics under the TEAC brand in India and Nepal. According to Mr Gopal Jiwarajka, Managing Director, Salora International, the modalities of the tie-up and the company's strategy for the TEAC brand would be worked out in a month's time. Salora plans to distribute TEAC products such as plasma televisions, LCD televisions, CTV, digital audio and video systems, computers, communication products and air conditioners. Salora has also announced a distribution and service tie-up with Korean portable digital audio-visual device manufacturer ReignCom Co Ltd, and said it would be distributing ReignCom's popular `iRiver' brand of MP3 players here. "We see India as a growing market for our product range, mainly in the MP3 player segment and this is the right time to enter India," ReignCom Co Vice-President, Mr Henry Kim, told presspersons here. Mr Kim, however, declined to comment on the specific sales target for the Indian market. He said initially the products would be imported from the company's plant in China. "But in another one year we may look at the option of bringing semi-knocked down units and assembling them at Salora's manufacturing plants," he added. "Within a year's time we expect iRiver brand to have a national presence. It will be made available in all of Salora's distribution channels," Mr Jiwarajka said. ReignCom launched 18 models of iRiver brand in four series at a price range of Rs 5,000 to Rs 20,000.
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