KONKA Announces Business Strategy to Expand into GCC Region

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DUBAI, UAE, Nov. 30, 2022 /PRNewswire/ -- KONKA Group Co., Ltd. ("the Company"; 000016.SZ), a leading technology company, is set to ramp up business expansion in the Gulf Cooperation Council (GCC) region with a focus on strengthening partnerships to increase its retail footprints and launch a series of new products tailored to the lifestyles of local customers.

The announcement comes on the heels of an exclusive distribution agreement the Company inked for the region, which will see the pair working to boost their regional growth by adding new product categories and expanding KONKA's sales channels to reach a wider customer base in new markets. Riding on the robust momentum in the region, KONKA plans to capture 2 percent of the market by 2023 and further increase the figure in the next five years.

People turn towards in-home entertainment more nowadays, leading to a notable rise in smart TVs featuring operating systems and superior audio-visual systems as platforms for users to access their favorite shows. The persistent demands for TVs, coupled with a sharper focus of users on image and sound quality, fuels the growth of streaming services and the development of TV technology, with technologies such as 4K UHD, HDR, 5G, and OLED having transformed the way people experience the viewing and listening content on their TVs.

To meet the customers' needs, KONKA continues to scale up the investment in the R&D and production of its TV offerings, equipping its products with the latest features and helping users effortlessly establish their home-theatre setups. While expanding its international presence, KONKA prioritizes offering localized services by fine-tuning its TV operating system so customers across the region can enjoy their local entertainment options and setting up local after-sales teams.

"Customer satisfaction sits at the heart of our business strategy, so our goal in the region is to forge solid and long-lasting partnerships to improve our services and deliver more value to our end-customer," said Hursh Agrawal, head of KONKA's brand business in the GCC. "KONKA has become a go-to brand for customers worldwide, offering a wide range of TVs loaded with WebOS, Android, and Netflix OS. Now, we have established a strong foothold in Saudi Arabia, Kuwait, Bahrain, and the United Arab Emirates, and plan to enter Oman and Qatar in the near future."

About KONKA Group Co., Ltd.

As a platform-based company driven by technological innovation, KONKA's business scope covers consumer electronics products, semiconductor technology, eco-friendly technology, industrial parks, platform service, and investment & finance. Established in 1980, KONKA is China's first Sino-foreign joint consumer electronics enterprise that has been listed on Shenzhen Stock Exchange.  Since 1999, KONKA has been ranked among China's top 100 best companies and has also been named one of the "Top 10 most valuable brands in China".  With annual revenue of over $7.0 billion, KONKA has more than 40 subsidiaries, 200 sales offices, more than 3,000 service outlets and over 15,000 employees.

For more information, please visit www.konkaglobal.com.

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