Dubai’s GITEX Shopper opens with tech deals galore

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The retail exhibition, located at Dubai World Trade Centre’s Za’abeel Hall 6, is lined up with hundreds of stalls showcasing their best and brightest technology. (AN Photo/Tarek Ali Ahmad)
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The retail exhibition, located at Dubai World Trade Centre’s Za’abeel Hall 6, is lined up with hundreds of stalls showcasing their best and brightest technology. (AN Photo/Tarek Ali Ahmad)
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The retail exhibition, located at Dubai World Trade Centre’s Za’abeel Hall 6, is lined up with hundreds of stalls showcasing their best and brightest technology. (AN Photo/Tarek Ali Ahmad)
Updated 02 October 2018

Dubai’s GITEX Shopper opens with tech deals galore

  • Samsung is expecting its latest smartphone - the Note 9 - to make waves across the expo
  • GITEX allows retailers to get a feel of what the consumers are truly after

DUBAI: GITEX Shopper’s hall doors opened on Tuesday with a queue of customers eagerly waiting to get their hands on the latest technologies at jaw-dropping prices.

The retail exhibition, located at Dubai World Trade Centre’s Za’abeel Hall 6, is lined up with hundreds of stalls showcasing their best and brightest technology, from high-end speakers to state-of-the-art washing machines and jumbo 75” smart TVs.

Samsung is expecting its latest smartphone - the Note 9 - to make waves across the expo, with the Korean technology giant taking the opportunity to include a stand of their own for pure marketing purposes while relying on official resellers across the exhibition for sales.

With technological trends continuously evolving and expanding around the world, GITEX allows retailers to get a feel of what the consumers are truly after, as well as where they would lean towards for specific purposes, be it viewing or gaming.

According to most vendors, 3D technology for television has become obsolete, with companies focusing more on depth-perception processing technology that provides viewers the 3D-feel without the inconvenience wearing clunky glasses.

Also available at GITEX Shopper is the Shopper Trade-In, where attendees can bring in their old technologies and, using a custom-made portal, can calculate their gadgets’ and gizmos’ values and swap them for a voucher of equivalent to the cost, which is redeemable at any GITEX stand. 

Among the exclusive and special events catered to exhibition attendees, Japanese optics and imaging company Nikon is offering lessons on photography. With a stand titled, Nikon School, the company has invited speakers to discuss and teach users on the different features of Nikon cameras, and how to optimize their use.

Other events include video game tournaments across both Playstation and Xbox, with the most popular games such as Fortnite, Overwatch, and FIFA 18 among those in contest.

The exhibition is set to go on from Tuesday October 2nd till Saturday October 6th,


Struggling WeWork mulls bailout deals with SoftBank, JP Morgan

Updated 14 October 2019

Struggling WeWork mulls bailout deals with SoftBank, JP Morgan

TOKYO: Under-pressure start-up WeWork is considering two huge bailout plans including a cash injection that could see Japanese investment titan SoftBank take control of the firm, according to reports.
The office-sharing giant had been on course for a massive initial public offering until last month when questions began to be asked over its governance and profit outlook.
The firm’s valuation plunged from $47 billion in January to less than $20 billion in September and the listing plans have been dropped, while co-founder Adam Neumann stepped down as chief executive.
With New York-based parent company We Co. not expected to push for the IPO this year, the cash-strapped firm is looking for a financial lifeline.
The Wall Street Journal, New York Times and Bloomberg News cited unnamed sources close to the talks as saying SoftBank — the US firm’s biggest shareholder — had drawn up a proposal that gives it full control of WeWork.
The move would dilute the voting power of Neumann, who remains as chairman of the company he started in 2010 and also currently maintains control a majority of voting shares.
They also reported that WeWork is looking at a deal with Wall Street giant JP Morgan to raise $5 billion in debt, with the Times saying directors of We would be meeting as soon as Monday afternoon to discuss that.
“WeWork has retained a major Wall Street financial institution to arrange financing,” the Journal reported a company spokesman as saying.
“Approximately 60 financing sources have signed confidentiality agreements and are meeting with the company’s management and its bankers over the course of this past week and this coming week.”
The New York-based startup that launched in 2010 has touted itself as revolutionizing commercial real estate by offering shared, flexible workspace arrangements, and has operations in 111 cities in 29 countries.
However, the company, which lost $1.9 billion last year, has faced skepticism over its ability to make money, especially if the global economy slows significantly.