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UAE company scores record results in first year of operation

  • United Arab Emirates: Monday, April 11 - 2005 at 16:17
  • PRESS RELEASE

Source IT, one of the region's leading retail distributors, today unveiled record sales figures from its sales network across the Middle East, generating revenues worth a remarkable AED 75 million for the financial year 2004/2005.

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  • Chris Rae, sales director, Source IT; Milo van Riel, sales manager,  Benelux & Middle East, Navigon; and Ahmed Al Azzawi, director, Source IT.
    Chris Rae, sales director, Source IT; Milo van Riel, sales manager, Benelux & Middle East, Navigon; and Ahmed Al Azzawi, director, Source IT.
The record high sales - audited by one of the world's leading accounting houses - have been welcomed by senior executives, who say it reflects the impact their unique, partner-focused approach has had on the regional retail market.

As another sign of the company's success, Source IT has been chosen as the exclusive distributor for the advanced Navigon navigation solution to the Middle East. Designed to assist users by providing the quickest and most convenient route from one location to the next, Navigon's award-winning software is the only available solution of its kind which covers the entire GCC land-mass.

"We've worked hard to open the Middle East market to new products through our innovative approach, which ranges from advanced product training through to unique marketing and distribution support," said Ahmed Al Azzawi, director, Source IT.

"To be chosen as the exclusive partner for Navigon in the Middle East - building upon the reputation we've earned through our work with i-mate in the region - marks another important step forward in our growth and development strategy," added Al Azzawi.

Throughout 2004 and 2005, the company has introduced a wide range of innovative marketing strategies, ranging from intelligent product bundling through to partnerships with organizations like Citibank and Emirates Bank.

"Increasingly, the market is recognizing that smartphones, Bluetooth technology, and PDAs need to be marketed and sold in a different way from standard phones in the Middle East. Making that connection - and employing techniques we've taken from some of the world's most advanced retail distributors - has enabled us to grow far beyond the standard market rate," added Chris Rae, sales director, Source IT.

The company has also drawn strong praise from existing partners in the region.

"We'd like to take this opportunity to congratulate Source IT on their outstanding results. Such a strong performance came as no surprise to the team at i-mate as we have valued their partnership from the beginning. Their strength in the retail marketplace has helped make a positive impact on i-mate's growth in the region and we wish them continued success," said Steffan de Rosairo, sales director, i-mate.

Advanced Navigation Product a Breakthrough for the GCC Market


"Navigon's ground-breaking solution is the ultimate tool for road-warriors, executives, and businesspeople who require a dynamic map that will save them time, and equip them with information that covers the whole Gulf road network," said Azzawi. "The detail of these maps is incredible; everything you need to know is featured, from restaurants and hotels to prominent landmarks and points of interest."

For use on any Windows Pocket PC Bluetooth-enabled devices, such as PDAs and smartphones, Navigon's navigation software employs the latest advances in global positioning system (GPS) technology and satellite tracking to provide users with details of their exact location, as well of knowledge of the surrounding area.

To ensure accuracy, maps of six GCC states, including Bahrain, Qatar, Saudi Arabia, Kuwait, Oman and the United Arab Emirates, are supplied by NAVTEQ, the world leader in digital map data.

Configured for either intuitive or simplified operation for those inexperienced with the technology, or for operation by technically experienced users who need advanced map data, Navigon is the simplest method of route-planning and execution available in the region today. Equipped with audio content that relays directions to the driver and touch screen functionality, Navigon is designed for simplicity and ease of use no matter the situation.

Commenting on the solution's usability, Rae said, "This is the only product on the market which provides accurate maps for every country in the Gulf, and these maps are updated on a regular basis. With the growth of the region's cities and the amount of development taking place, it is important that people keep up to date with changes in the region's transportation system, and Navigon allows them to do that."

Other distinctive functions of Navigon's navigation software include a drop-and-drag interface that allows users to store specific destination addresses on the system for future reference. The solution can also be used in Europe and North America, at an extra cost.
The value-added Navigon bundle from Source IT includes navigation software from Navigon and GCC maps from NAVTEQ, a Bluetooth GPS receiver and car charger, and a universal car cradle for the user's PDA.
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About Source IT
Founded in 2004, Source IT has sought to establish itself as the leading retail distributor for the Gulf region with a vision of providing an exceptional service to the customer and channel alike. Source IT has already revolutionized the mobile device market with its distinctive box-bundling, delivering a turn-key solution to retailers that delivers value-for-money and is designed in the UAE. With its commitment to value and service, Source IT sets the standards for the Middle East's retail landscape.

About NAVIGON GmbH
NAVIGON GmbH is an innovative developer of quality software for navigation and driving assistance solutions. With over 14 years of experience in the industry and an installed base of over a million users world wide Navigon continue to innovate and offer mobility solutions for individuals as well as companies.
For more information on Navigon and the milestones since its inception please visit http://navigon.com.

About NAVTEQ
NAVTEQ is a US Based world leader in premium-quality digital map data. It's also the driving force behind a new generation of important navigation services, including: Internet websites, Enterprise/Fleet/GIS solutions and Location Based Services (LBS). Since its inception in 1985 NAVTEQ has build its data to cover over 40 countries around the work - including the GCC.

For more information on NAVTEQ and the milestones since its inception please visit http://www.navteq.com.

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