BenQ Middle East has been awarded the title of ‘country of the year’ in recognition of its sales and profits growth across the region. The bizarre title, which conveniently ignores the fact that the Middle East is not actually a single country, has been bestowed on the vendor’s regional operation by BenQ’s head office.
BenQ reported Middle East sales growth of 35% year-on-year in 2005 with profitability faring even better, climbing 50% on the previous year’s figure. As part of Channel Middle East’s ongoing quest for financial transparency, BenQ has been asked to reveal its absolute sales and profits figure for the Middle East. The vendor is currently considering whether or not to provide these numbers. Without an absolute figure, it is impossible to assess the true significance of any percentage rise.
BenQ has also cited research by American group BNA, which places it as the number three manufacturer of LCD monitors in the Middle East region. BenQ has operated an SKD facility with partner Irannara in Iran since February 2005 — a plant capable of producing up to 1,000 17” BenQ branded LCD monitors per day.
“It has been a phenomenal year and to be recognised within the scope of the worldwide BenQ Corporation vindicates the efforts and strides we have taken to build our operations here in the Middle East”, said Robert Dung managing director at BenQ Middle East.
BenQ claims that its LCD monitors are highly rated across the Middle East for ‘brand positioning’, claiming top spot in Egypt, second in the UAE and Saudi Arabia and third in the rest of Middle East and Africa.
“The introduction of products such as LCD TVs and projectors had a significant impact in terms of boosting both sales and profitability,” said Manish Bakshi, general manager at BenQ Middle East. “The UAE and Saudi Arabia continue to perform strongly, accounting for 40% of regional sales in 2005.”
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