Fawzan expressed his thanks to HH Al Qahtani for honoring and launching the new branch, saying that the United Electronics Company is working to create model policies in the retail sale of electronics.
Fawzan pointed out that despite its short presence in the Saudi market, the company has launched its first branch in Dammam, and the eleventh in the kingdom. This is due to its acquisition of the largest proportion of leadership in the electronics market in Saudi Arabia which is up to SR21bn, and which is expected to grow by 3.3% by the year 2009.
From his side, Mohammed Jalal, the Executive Chairman of the United Electronics Company, said:
"The annual average demand of electronic devices varies from one city into another."
He also pointed out the existence of vital sectors in the electronics market that grow significantly, such as computers, which is growing by a percentage up to 25%.
Jalal confirmed the Kingdom's need to build 4.5 million housing units during the next 20 years; the factor that increases the demand to own some household appliances, such as plasma sceens, whose sales grow by more than 40% due to its varying range of prices. Jalal says that Extra, however, is considered one of the few providers of such devices that the Saudi customers prefer. Besides plasma sceens, there are portable computers and mobile phones, which all make more than 50% of the total consumer electronics industry.
Jalal concluded, "Finally, the concepts of new global market and the revolution of digital communications have increased the competition among manufacturers, especially with the entry of new trademarks. The matter which returned some benefits to consumers in the form of providing promotional prices acceptable by all."