$60,000 TV? New tech shines at Dubai’s GITEX Shopper

The annual technology retail event will run until Sept. 28. (Supplied)
Updated 25 September 2019

$60,000 TV? New tech shines at Dubai’s GITEX Shopper

  • More than 100,000 visitors are expected to attend the retail event over the five days
  • The event, which opened Tuesday, comes on the heels of the most recent announcements made by the world’s tech giants

DUBAI: Fancy buying a new television? Get it for a whopping $60,000 – it comes with the newest 8K resolution technology, but the snag is you will still have to push the on button.

The top-end TV is just one of the more than 35,000 items featured at this year’s GITEX Shopper in the Dubai World Trade Center (DWTC) which runs until Saturday, Sept. 28.

The event, which opened Tuesday, comes on the heels of the most recent announcements made by the world’s tech giants.

More than 100,000 visitors are expected to attend the retail event over the five days, according to Show Director Avinash Shanbough, who said they welcomed 25 exhibitors this year.

Shanbough said GITEX Shopper buyers spent an average of $300 in 2018.

Smartphones take the spotlight

The new iPhone models – iPhone 11 and iPhone 11 Pro – were a hot topic at the event, with eager customers trying out the new phones at several reseller stands.

The three cameras on the new iPhone are the main selling point – some critics have suggested it might be the only selling point of the must have gadget which retails from about $800.

Samsung have extensive advertising throughout the exhibition focusing on the new Note 10, released in August, at the event from $740.

Huawei, the only one of the big phone manufacturers to have an actual presence at the GITEX Shopper, is banking on its older smartphone models to catch the attention of consumers, the new Huawei Mate 30 Pro announced in September, not yet available in the UAE.

New tech

But it is not just about the smartphones – other state-of-the-art technology includes 8K resolution televisions, costing as much as $60,000.

Despite costing more than many people’s salaries, the vendors remain committed to product.

“We have not seen this kind of technology in the market yet. It’s very new,” one Samsung vendor said, as they demonstrated the TV.

Only Samsung and Sony are offering these new TVs, which range in size from 65 inches to 98 inches.

Other GITEX finds

Like every other GITEX Shopper event, there is a vast selection of other gadgets, including state-of-the-art speakers and home theaters from the likes of Bose and Marshall.

There are also home electronics, including washing machines, blenders and microwave ovens.

But perhaps one of the biggest draws is the gaming section, which allows visitors to play for free.

Russia vows cooperation with OPEC to keep oil market balanced

Updated 21 November 2019

Russia vows cooperation with OPEC to keep oil market balanced

  • Moscow not aiming to be world’s No.1 crude producer, Putin tells annual investment forum

MOSCOW: President Vladimir Putin said on Wednesday that Russia and the Organization of the Petroleum Exporting Countries (OPEC) have “a common goal” of keeping the oil market balanced and predictable, and Moscow will continue cooperation under the global supply curbs deal.

OPEC meets on Dec. 5 in Vienna, followed by talks with a group of other exporters, including Russia, known as OPEC+.

“Our (common with OPEC) goal is for the market to be balanced, acceptable for producers and consumers and the most important — and I want to underline this — predictable,” Putin told a forum on Wednesday.

In October, Russia cut its oil output to 11.23 million barrels per day (bpd) from 11.25 million bpd in September but it was still higher than a 11.17-11.18 million bpd cap set for Moscow under the existing global deal. Putin told the forum that Russia’s oil production was growing slightly despite the supply curbs deal but Moscow was not aiming to be the world’s No. 1 crude producer. Currently, the US is the world’s top oil producer.

“Russia has a serious impact on the global energy market but the most impact we achieve (is) when working along with other key producers,” he said. “There was a moment not that long ago when Russia was the world’s top oil producer — this is not our goal.”

Russia plans to produce between 556 million and 560 million tons of oil this year (11.17-11.25 million bpd), Energy Minister Alexander Novak said separately on Wednesday, depending on the volume of gas condensate produced during cold months.

Russia will aim to stick to its commitments under the deal in November, Novak told reporters.

Russia includes gas condensate — a side product also known as a “light oil” produced when companies extract natural gas — into its overall oil production statistics, which some other oil producing countries do not do.

As Russia is gradually increasing liquefied natural gas production (LNG), the share of gas condensate it is producing is also growing. Gas condensate now accounts for around 6 percent of Russian oil production.

Novak told reporters that in winter, Russia traditionally produces more gas condensate as it is launching new gas fields in the freezing temperatures.

“We believe that gas condensate should not be taken into account (of overall oil production statistics), as this is an absolutely different area related to gas production and gas supplies,” he said.

Three sources told Reuters on Tuesday that Russia is unlikely to agree to deepen cuts in oil output at a meeting with fellow exporters next month, but could commit to extend existing curbs to support Saudi Arabia.

On Wednesday, Novak declined to say that Russia’s position would be at upcoming OPEC+ meeting. Reuters uses a conversion rate of 7.33 barrels per ton of oil.