The UAE's leading electronics retailer Jumbo Electronics plans to expand in the UAE and explore new markets in the Gulf region, according to a top official of the company. Established in 1974, Jumbo Electronics is UAE's leading IT specialist and consumer electronics company with an extensive network of 28 retail stores spread across the Emirates and Oman. The electronic retailer is expected to open three more retail stores in the UAE soon and also looking to explore new markets in GCC, but did not disclose exact number of stores and country for the region. "We have signed up on one new store in the UAE and are currently in talks for two more potential locations," Nadeem Khanzadah, head of retail, Jumbo Electronics , told Khaleej Times in an interview.Khanzadah mentioned that location is key and the company is continuously scouting the market for possible opportunities, both in and out of the UAE. He said expansion in Gulf region is also under consideration, but will be announced once any deal materialised. "We have witnessed encouraging success in India. Our business model has worked well and we are looking to expand our footprint to capitalise on the country's potential. Not actively looking out to go beyond GCC and India at this stage," he added. Without mentioning the exact growth figures, he said Jumbo retail has shown steady growth in the first six months of the year and expect further growth in rest of the year. "The market is now showing signs of the usual summer sluggishness and we expect the momentum to pickup Eid onwards. With Gitex and DSF to follow, the best of the year is yet to come," he said. Regarding sales during Dubai Summer Surprises, he said laptops, smartphones, DSLR cameras and Bravia TVs were hot ticket items and helped boost sales manifolds. The smartphones category recorded a 50 per cent growth. Sony's latest range of cameras is doing well and the company expects the trend will continue. He agreed that the retail sector is growing in the UAE, especially the consumer electronic industry. Gadgets are a necessity and an important fashion accessory, he said, adding that carrying the latest gadgets and pride of possessing latest electronic item for their homes have helped the industry grow. Top selling products are Internet TVs, Laptops, Tablets, smartphones and SLRs, according to Khanzadah. Talking about the latest trend, he said UAE consumers are savvy as they like the latest and are frequent in upgrading to the latest technology. Be it upgrading the mobile phone to smart phones, or their LCD & LED TVs to Smart TVs, they are confident and forthcoming, he added. In addition to acting as chief distributor for global brands Sony, Casio and Dyson, the electronic retailer is a trusted distribution partner for many of the world's leading brands including Apple, Asus, Acer, BlackBerry, Brother, Compaq, Dell, Epson, Gorenje, HP, HTC, Lenovo, LG, Motorola, Nokia, Packard-Bell, Samsung, Sony-Ericsson, Toshiba, and Vaio. "We are the official distributors of Sony since inception and it is our flagship brand. It is an innovative brand and is known for breakthrough technology -- be it TVs, PS3s, a mp3 player or a digital camera. The brand has worked hard on overcoming the production setbacks due to the recent natural disasters and we have no doubt it will bounce back to regain its leadership position," Khanzadah said. Khaleej Times
