Bahrain's consumer electronics segment poised to grow to USD 797 million

'harman house' sees sustained increase in demand for audio devices, LCD and Plasma TV's amidst challenging market conditions

Dubai, United Arab Emirates (prHWY.com) March 14, 2012 - Bahrain's consumer electronics segment continues to demonstrate key stability amidst the impact left by the recent economic downturn, as reflected by its current market value of over USD 632 million in 2011, which is expected to increase by USD 797 million by 2015. Meanwhile, the country's addressable Audio Video (AV) device segment, which is currently valued at USD 338 million, is also being pegged to grow at a CAGR of six per cent during the same time period. Across this expected growth in Bahrain, 'harman house' the leading retail chain in home, professional and car infotainment in the Middle East, is seeing a continued increase in the demand for more audio devices and LCD & Plasma television sets despite challenging market conditions.

According to recent industry reports, the healthy state of the country's AV segment, coupled with the growing demand for key AV devices, is being touted to drive the segment's value to over USD 430 million by 2015. 'harman house,' experienced a 82 per cent increase in sales till date in Bahrain during FY 2011-2012, as compared to the previous year, taking them one step closer towards achieving its Middle East target revenue of USD 300 million for FY 2011-2012.

"We are very upbeat about the continuing growth of the Bahrain consumer electronics industry and the AV devices segment in particular. Consumers in Bahrain have demonstrated a new found wisdom of knowing more about the product, before actually deciding on a purchase. This new attitude has stirred in more demand for products that offer high-end features and maximum performance at more affordable prices," said Amit Malani, President, Harman Middle East. "We remain steadfast in our commitment to become a major part of this growth and consumer buying trend. So far, our initiatives, which include endorsements made by A.R. Rahman, Maroon 5, Jennifer Lopez and Sir Paul McCartney, the introduction of new innovative products and our investments in marketing, have become strategic complements to our move to meet the demands and requirements of Bahrain's diverse consumer electronics market."


About Harman Middle East
Harman Middle East is a market leader in home, professional and car infotainment in the Middle East. Comprised of three key business lines - 'Retail', 'Distribution' and 'Projects Division' - the company offers home theatres, multimedia systems, wired and wireless headphones, plasma and LCD TVs, car audio and navigation from the world's leading audiovisual brands, including harman kardon, JBL, Infinity, Samsung, and AKG. The company was also involved in the installation of audio and video systems for Virgin Megastores in Dubai and Abu Dhabi, among other high profile clients. With local stores located in The Dubai Mall, Sheikh Zayed Road, Mall of the Emirates, Mirdif City Centre, Ibn Batuta Mall, Dubai Festival City, Deira City Centre and Al Nasr Square in Dubai; Marina Mall in Abu Dhabi; and Sharjah City Centre, the company also has two showrooms in KSA, one in Bahrain, and one in Qatar.

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Tag Words: consumer, electronics, bahrain, jbl, speaker

Categories: Electronics

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