Al-Hussaini & Al Yahya Trading Co. and Seiko are celebrating 40 years of their partnership in Saudi Arabia. “Our partnership has been very successful and our market share steadily increasing,” Abdul Rahman Al-Hussaini, president and CEO of the company told a press conference at Jeddah InterContinental on Sunday. “The Kingdom is our third biggest market, after the United States and Japan,” Takashi Wakuyama, director and COO at Japan-Based Seiko Watch Corporation’s international marketing division, said. Seiko’s annual sales in the Kingdom now average more than 500,000 pieces. “Since the beginning of the partnership, Seiko has been in the premier position of the watch market. This proves that our partnership is very successful,” he said. Seiko introduced its core concept and defined its new brand vision to mark the 40th year of partnership in a market that is becoming “highly competitive.” The Japanese watch giant has decided to boost its brand value by defining its brand identity as ‘Innovation and refinement.’ “All of our products, advertising and point of sales will be in accordance with this concept,” he said, adding that last year the company launched Arctura Kinetic Chronograph as its flagship. “Its technological innovation, refined design and sophisticated advertising appeal to many consumers worldwide.” It also introduced a new Seiko 5 model to mark the 40th anniversary. Only 2003 pieces of this limited edition were produced and “very well accepted” in the Kingdom and elsewhere in the world. This year, the company plans to introduce products with concepts that embody innovation and refinement.
LG
LG Electronics opened its second mobile phone showroom and service center in the heart of the mobile phone market at Palestine Street in Jeddah last night. LG General Manager C.K. Cho and H.K. Seo, managing director of United Yousef M. Naghi Ltd., LG’s local distributor, jointly cut the ribbon to mark the opening. LG Deputy General Manager S.M. Arshad, Simon Kim, senior manager, telecommunication & IT products, at LG, and Mohamed K. Murad, national product manager GSM at United Yousef M. Naghi Co. were among those who took part in the ceremony. “The market is huge and its potential vast, but competition is becoming tough because there are many players and many models with varied features,” Cho said. “We entered this market only over a year ago and after an excellent sales record, we find the market has steadied itself,” Kim said. The size of the Kingdom’s market is around three million units. “We’re targeting seven to eight percent of this volume, around 200,000 units, this year” he said, adding that last year LG sold more than 65,000 units. LG currently has a lineup of seven models in the market, including the Qibla phone that has been a “big success,” and the newly introduced G5500. The G5500 weighs 89 gm and has conversation power to last for 4.5 hours. The battery is good for 250 hours on standby mode. This dual band phone has a 65k color display with animated wallpaper. It is JAVA enabled and has the answering machine and 918-character message capability. The phone has other exclusive features including voice dialing and an Arabic/English vocal keypad. With its 40 polyphonic ring tones downloading capability, the phone is expected to lead the market in slide-down phones, Kim said. “All LG models incorporating the latest technology and features are on display at the showroom. LG’s first mobile phone showroom and service center opened at Bani Malek last year,” Seo said.
STC
Saudi Telecom Company has shown a keen interest in benefiting from the next generation network (NGN) worldwide drive as part of efforts to improve its broadband services to the Kingdom. This was disclosed to Arab News during a joint interview with Fadhil Al-Ibrahim, chairman and executive director, Marconi Middle East, and Martin Harriman, chief marketing officer, Marconi Corporation, who traveled specially from the UK for a joint STC-Marconi strategy workshop and meeting. Harriman gave a presentation on NGNs and, in particular, Marconi’s multiservice network solutions at the workshop. “They’re aware of the advantages of broadband technology, especially in terms of improving the connectivity and in reducing the cost of telecommunication services,” he said. Al-Ibrahim said one of the dilemmas facing STC was that most of its investment was in fixed lines, which had a slow rate of growth compared to the mobile network. STC will, therefore have to invest in broadband networks to improve its revenues by enhancing the range of applications and thus the maximization of their network. This will automatically bring down the cost of the landline services.
<>Rikaz
Rikaz Developers, the Kingdom’s real estate development company, announces that it has completed the 2.5 km reclamation project for City Fanar, its major new development plan, two months ahead of schedule. The contract, which was undertaken by Dutch company Ballast Ham, became effective in May 2002. “The efficiency that was shown by Ballast Ham represents the commitment of everyone involved in this project,” said Khalid H.A. Al-Ghatani, president and CEO, Rikaz Developers. “By setting excellent standards, City Fanar will be elevated to the status of a social pillar in the Kingdom, which is owned by the people whose lives it touches.” Located on the Alkhobar-Dammam Corniche, the 3.4 million sq. m. City Fanar will provide a mixed use environment, offering world-class residential, commercial and leisure facilities, including an unrivaled blend of shopping, entertainment, dining and waterfront activities and hotels. “City Fanar presents investors with a reliable opportunity to take part in a project that will influence the future of the region and bring returns on investment,” Khalid said.