Harman Middle East has announced that it is expecting to secure US$200 million in total revenues from the Middle East for the financial year 2010-11.
The bullish projection, which represents a 40 per cent increase over the last year, follows the major increase in its turnover in 2009-10, wherein the company achieved 72 per cent growth given a steady demand for its products and its expansion into Qatar, Bahrain and Saudi Arabia. Underlining its product innovations and AV technology, the company is gearing up to further strengthen its retail operations in the region to reach its objectives for the current financial year.
Its Projects Division has secured several audio visual implementation and integration projects like Emaar, Meydan, Jumeirah Group and is expected to continue to be the key driver for the company’s success in the upcoming financial year.
“The growth we have achieved in the Middle East during our previous financial year underscores the effectiveness of our strategy, the world-class quality and appeal of our products and the region’s importance as a key market for us,” said Amit Malani, president, Harman Middle East.
“Motivated by this major success, we are gearing up to take on an extensive regional retail expansion plan within the next three to five years, which will involve the unveiling of the latest next generation technologies in home, professional and car infotainment, as well as new initiatives to deliver increased value to our customers.”