HOME Singapore retailer establishes Challenge Ventures
Singapore-listed Challenger Technologies has established a new subsidiary, Challenge Ventures, to focus on investing in companies and businesses to complement Challenger’s existing business. The company is prepared to inject up to SGD20m (US$13.95m) into Challenge Ventures if suitable investments can be identified. Challenger Technologies currently operates a chain of IT retail stores known as Challenger as well as lifestyle retail concepts such as audio specialty store Musica in Singapore.
Read full story
‘Make In India’ gathers steam as Gionee makes its move
China-based smartphone brands are heading to India as part of the country’s ‘Make In India’ programme designed to encourage local manufacturing of devices. Smartphone brand Gionee has announced a US$50m investment over the next three years to start producing mobile devices in India in association with manufacturers Foxconn and Dixon.
Read full story
Dick Smith reports full year figures
Retailer Dick Smith, which operates in Australia and New Zealand, posted sales for the year ending 28th June 2015 of AUD1.32 billion (US$920m) – up 7.5% year-on-year. After-tax profits before restructuring costs climbed 3.1% year-on-year to hit AUD43.4m (US$30.1m), representing a profit margin of 3.29%. Nick Abboud, Dick Smith managing director and CEO, said: “We are pleased to have delivered another solid underlying profit performance in this our second year as a listed company.”
Read full story
Meizu to increase presence in India
Fast-growing China-based smartphone brand Meizu plans to increase its presence in India. Li Nan, VP of marketing at Meizu, stated: “We are happy to announce our entry into India through the MX5 and look forward to playing a leading role in shaping the smartphone market here. For the next few months, after-sales services will be the key focus for Meizu.”
Read full story
Erajaya announces joint ventures in Singapore and Malaysia
Indonesia-based distributor and retailer Erajaya Group has announced joint ventures in both Singapore and Malaysia. Erajaya has formed a joint venture with Alphabright to set up Era International Network in Singapore. The company has also teamed up with Malaysian citizen Li Chau Ging to form Era International Network in Malaysia. The moves form part of Erajaya’s plan to expand its distribution and retail footprint in both countries.
Read full story
Courts boosts profits in first quarter
South-East Asian IT and consumer electronics (CE) retailer Courts boosted after-tax profits 19% year-on-year to hit S$6.04m (US$4.27m) for its first quarter ending 30th June 2015. The results marked an improvement in margins as sales were up just 2.1% year-on-year at S$198.2m (US$134m). Courts plans to open its fourth store in Indonesia by the end of 2015.
Read full story
Challenger profits rise in second quarter
Singapore-based retailer Challenger Technologies has announced second quarter 2015 sales of S$84.7m (US$60.3m), up 3% year-on-year. After tax profits for the quarter climbed 21% year-on-year to hit S$3.5m (US$2.5m). The increased profitability was due to the closure of Challenger’s loss-making Malaysian operation in the first half of fiscal year 2014. With these losses stripped out of the business, Challenger was able to record improved profit margins.
Read full story
INTERVIEW: Richard Huang, Trendnet
Technology and consumer electronics (CE) brands are preparing to take full advantage of this year’s DISTREE Asia-Pacific (APAC) regional channel event in Singapore. The opportunity to arrange meetings with senior executives and buyers from the region’s most influential distributors, retailers and e-tailers is a golden opportunity to open up new channels and accelerate sales across this fast-growing market. Networking vendor Trendnet has confirmed its participation. Channel APAC caught up with Richard Huang, general manager APAC at Trendnet, to get the lowdown on the company’s plans.
Read full story
Totolink to participate at DISTREE APAC
Networking vendor Totolink will look to further expand its channel reach through its participation at October’s DISTREE Asia-Pacific (APAC) event in Singapore. The three-day event allows brands to pre-schedule one-on-one meetings with senior executives and buyers from the region’s most influential distributors, retailers and e-tailers of technology and consumer electronics products.
Read full story
Haines takes on expanded role at Tripp Lite
IT infrastructure products vendor Tripp Lite has announced the appointment of Darwin Haines as its new senior VP of international business. Haines joined Tripp Lite in 2008 as VP of international business development. After successfully establishing the brand in the Russia & CIS market, he was promoted to VP of sales for EMEA and Asia. After success in these regions, he will now take on management responsibility of all Tripp Lite’s international sales territories, which also include Mexico, Latin America and Canada.
Read full story
