Dubai-based firm, Maser, eyes African market to offer affordable TV sets
Maser, an electronics firm based in Dubai, is planning to invest Ksh.30 billion (USD 300 million) in LED TVs, Aircon, washing machines for sale in the Middle East, and Africa over the next 3 years.
Maser, a Dubai-based electronics supply firm, has announced a plan to tap into the affordable electronics demand in Africa.
The company is poised to enter an ambitious phase of expansion into the larger African market, starting with Kenya. The expansion into Kenya is set to create jobs to a population that has been hit hard by the COVID-19 pandemic.
Speaking about the venture, Maser founder and CEO, Mr. Prateek Suri, noted that there has been quite a demand for affordable TVs as the pandemic forced people to stay at home.
“We got many inquiries through email for our products in the Kenyan and ultimately, African market. It is our goal to supply affordable and quality electronics products to homes in Africa,” he said.
The company’s warehouses will be based in Kenya, providing jobs to hundreds of young people that lost their jobs during the pandemic.
In a statement sent to newsrooms, the CEO said that Maser is planning to invest Ksh.32 billion (USD 300 million) in LED TVs, Aircon, and washing machines for sale in the Middle East, and Africa over the next 3 years. The company states that they have also done trial sampling for split air conditioners for the Middle East market and Africa.
With people forced to stay at home due to the COVID pandemic, there had been increased demand affordable and quality of smart TVs from retail consumers under lockdowns, as people at home keep streaming content from digital platforms such as Netflix and Amazon Prime.
There has been a surge in online sales, and the company expects that to continue as people refrain from going outside and streaming platforms acquire exclusive content for smart TVs.
“Working from home has provided us with an opportunity to fine-tune our strategy, evaluate our performance, and develop a roadmap for the future. The past few months presented many businesses with a steep learning curve. For the redistribution market, it will all depend on how sales resume post-COVID,” he says.
“Once all lockdowns are lifted, I foresee another huge spike in demand as supply lines have been constrained the past few months. The challenge would be is to fill this dry out gap. This unprecedented situation has forced companies to relook strategies.”
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