$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.


STC postpones its acquisition of Vodafone Egypt for second time

Updated 13 July 2020

STC postpones its acquisition of Vodafone Egypt for second time

  • Kingdom’s largest telecom company says it will need an additional two months to complete the deal

CAIRO: The Saudi Telecom Company (STC), the Kingdom’s largest telecom company, said that it will need an additional two months to complete a deal to purchase a 55 percent stake in Vodafone Egypt.

In January, STC was in agreement to buy the stake for $2.4 billion. In April, it extended the process for 90 days due to logistical challenges stemming from the spread of COVD-19. The company said in a statement that it would extend the period again to September for the same reason.

The Public Investment Fund, the Saudi sovereign wealth fund, owns a majority stake in STC. The ownership of Vodafone Egypt is divided between 55 percent for Vodafone International, which is the target percentage of the Saudi purchase offer, 44.8 percent for Telecom Egypt, and the remaining 0.2 percent for small shareholders.

Telecom Egypt is awaiting the results of Vodafone’s evaluation of the final share price to announce its position on the deal. A Telecom Egypt official stated that the company is still awaiting STC’s position regarding the purchase of the share. If the deal is not completed, it may be presented with its rights to acquire Vodafone’s share, which would allow it to take over 99.8 percent of the company’s shares, leaving 0.2 percent for small investors.

Ashraf El-Wardany, an Egyptian communications expert, pointed out the importance of waiting until the procedures between STC and the Vodafone Group are complete. The results will determine the next steps by Telecom Egypt.

El-Wardany said that the Saudi operator must, after completing the relevant studies, submit a final binding offer at the share price and any conditions for purchase. If approved by Vodafone, it must submit the offer with the same conditions and price to Telecom Egypt, provided that the latter responds within a maximum period of 45 days to determine its position regarding the use of the right of pre-emption and the purchase, or lack thereof, of Vodafone’s share.

According to El-Wardany, there are other possible scenarios. Vodafone International may not be convinced of the offer or the conditions presented by the Saudi side and the sale may be withdrawn, or the Vodafone group may be ready to sell and has prepared another buyer for its stake in Egypt in the event of rejecting the Saudi offer. It may also it back away from the deal and continue to operate in Egypt for a few more years.

El-Wardany said that if Telecom Egypt decides not to use the right of pre-emption to acquire the remaining Vodafone shares for any reason, it will continue with its 44.8 percent stake.
It may also resort to selling all of its shares or part of it to the Saudi side or to any company that wants to acquire its stake.

“This raises the question of whether STC can acquire all of Vodafone’s shares,” El-Wardany said, adding that the coming months “will make the answer clear.”