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News
Saudi electronics market reaches $3.5 billion
  Posted on 19 Jul 2004
  Saudi Arabia’s electrical and electronic market is growing by leaps and bounds. The market volume is estimated to be around $3.5 billion (SR13 billion).
“Together with the increasing demand for electrical and electronic goods, there is a growing demand for better quality, variety, service and value-for-money,” Hani Hinnawi, marketing manager of United Electronics Company (UEC) said to Arab News.
“Although competition is strong, the potentially rich market is capable of absorbing a much bigger volume of electrical and electronic devices,” he said, adding that the market is poised to witness a strong revival in demand, especially with the entry of Chinese goods.
This has given a new impetus to retailing, prompting the opening of new showrooms and outlets with latest products and services. Chains of stores are opening across the Kingdom dedicated to specific products and services to meet the needs of consumers.
“That’s how UEC has extended its one and a half year old ‘Extra’ mega showroom with a branch at Sultan Mall in Jeddah,” Hinnawi told a press conference.
Such mega showrooms are meant to boost the image of the retail market by providing conducive atmosphere for shoppers with multiple choices at competitive prices under one roof.
The Jeddah showroom occupies an area of 6,000 sq m and has 20,000 electrical and electronic products of all reputable brands from both the Western and Eastern worlds under one roof.
A special feature of the showroom is it has a service center that attends to repair of products of any brand. “Buyers can even return or replace their purchases within seven days,” Hinnawi said.
With its third showroom opening in Alkhobar in September, and four other new branches set for next year, UEC is planning to have 10 more “Extra” showrooms, elsewhere in the Kingdom. New showrooms are to be located in Makkah, Madinah, Taif, Tabuk, Abha, Qasim and other cities and towns. “We’re investing $214 million (SR800 million) in these 15 projects,” Hinawi said.
Showroom Manager Mahmoud Darwish and Asif Aghai of the UEC said the store had dedicated sections for digital equipment including cameras, mobile phones, photocopiers, videos and accessories, aside from air-conditioners, washing machines and refrigerators. “Name an electrical or electronic product and we’ve them all,” Aghai said.
The “Extra” also boasts a ‘Home Cinema’ that is sought after by owners of villas and housing complexes.
   

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