KONKA announces a business strategy for expansion in the GCC region

DUBAIUnited Arab Emirates, November 30, 2022 /PRNewswire/ — KONKA Group Co., Ltd. (the “Company”; 000016.SZ), a leading technology company, is set to step up business expansion in the Gulf Cooperation Council (GCC) region, with a focus on strengthening partnerships for to increase its commercial footprint and launch a range of new products tailored to the lifestyle of local customers.

The announcement follows an exclusive distribution agreement the company has entered into for the region, which will see the pair work to drive their regional growth by adding new product categories and expanding KONKA’s sales channels to reach a wider base wide range of customers in new markets. Based on the strong momentum in the region, KONKA plans to capture 2% of the market by 2023 and further increase the figure over the next five years.

People are moving more towards home entertainment these days, leading to a notable rise in smart TVs with superior operating systems and audio-visual systems as platforms for users to access their favorite shows. Persistent demand for televisions, coupled with increased user focus on picture and sound quality, is fueling the growth of streaming services and the development of TV technology, with technologies such as 4K UHD, HDR, 5G and OLED have transformed the way people experience watching and listening to content on their TVs.

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

“Customer satisfaction is at the heart of our business strategy, so our goal in the region is to build strong and long-lasting partnerships to improve our services and deliver more value to our end customer,” said Hursh Agrawal, head of the KONKA brand in the GCC. “KONKA has become a favorite brand for customers around the world, offering a wide range of TVs loaded with WebOS, Android and Netflix. Now, we have established a strong foothold in Saudi Arabia, Kuwait, Bahrainand United Arab Emiratesand plan to enter Oman and Qatar in the near future.”

About KONKA Group Co., Ltd.

As a platform-based company driven by technology innovation, KONKA’s business scope covers consumer electronics, semiconductor technology, green technology, industrial parks, platform services, and investment and financing. Established in 1980, KONKA is of China the first Sino-foreign consumer electronics joint venture to be listed on the Shenzhen Stock Exchange. Since 1999, KONKA has been ranked among of China top 100 best companies and was also named one of the “Top 10 Most Valuable Brands in China“. With annual income of over 7.0 billion dollarsKONKA has more than 40 subsidiaries, 200 sales offices, more than 3,000 service points and more than 15,000 employees.

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

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