GENX, Xtreme brands drive MTC to 24 per cent revenue growth in ME
Memory cards account for 70 per cent of revenues of Xtreme products, while USBs and digital cameras top sales among GENX-branded offerings
February 25, 2010
Memory Technology Middle East (MTC), one of the leading IT distribution companies in the MENA region, has announced a 24 per cent year-on-year growth in the Middle East in 2009, buoyed by the excellent sales performance of MTC's Xtreme and GENX brands. MTC further revealed that despite the effect of the global economic downturn on retail expenditure, the company has enjoyed a relatively strong year as it realised up to 85 per cent of its planned projects in 2009.
For MTC's Xtreme product line, memory cards accounted for 70 per cent of revenues, while the GPS Navigation System and FM Modulators contributed nearly 30 per cent. The Xtreme brand's FM Modulator also delivered significant results, improving revenues by up to 10 times compared with the previous year.
USBs contributed the most to MTC's GENX-branded product line, accounting for 35 per cent of total revenues. The GENX digital camera series closely followed with 30 per cent, while GENX MP3 and MP4 players generated 15 per cent of total sales. Car DVD players, digital photo frames, newly introduced category of wireless products combined for 20 per cent of revenues.
Shabu Sultan, General Manager, MTC said: "We have performed remarkably well in 2009 despite the lingering effects of the global economic downturn in various key markets. This is a very clear indication that our products deliver great value in terms of quality and cost-efficiency, which has helped establish their reputation as a popular choice among consumers. We intend to build on the strong performance of MTC's GENX and Xtreme brands to further consolidate our market share in 2010. Furthermore, we are poised to introduce a wider range of innovative lifestyle solutions that match the preferences and needs of Middle Eastern consumers."
Established in 1999 by MTC, GENX has emerged as a leader in providing innovative IT technologies to markets in North Africa, Egypt, Levant and the GCC. GENX has established management hubs in Dubai, Jeddah, Riyadh and Yemen, and distributes its products and services to large enterprises, SMEs, service providers and consumers directly through its own sales force and indirectly through a network of channel partners.
Sold in more than 20 countries, Xtreme products are equipped with state-of-the-art technology that delivers maximum efficiency and reliability and optimum performance. Furthermore, Xtreme ensures the highest level of customer satisfaction by creating products that match the expectations of clients in terms of competitive pricing, premium quality and superior technical support and customer service.
MTC has been widely successful in specialising in DRAM and flash technologies, helping the company boost its turnover by 400 per cent in the last seven years. MTC's GENX and Xtreme brands have emerged as the most popular product lines in the region and have contributed in consolidating the company's 60 per cent share in the MENA market for memory storage devices.