The UAE’s AV segment is expected to continue its growth streak this year, according to Harman House, the leading retail chain in home, professional and car infotainment in the Middle East. The company’s confident outlook complements a recent report, predicting a Compounded Annual Growth Rate (CAGR) of six per cent well into 2015.
The report forecasts that the next two years will see increased sales revenues of up to USD 1.58 billion across various key segments of the AV market. The projected growth affirms the AV market’s presence as one of the important players for the country’s consumer electronics market. In line with this, Harman House reported excellent sales performance during its recent participation at this year’s edition of the Dubai Shopping Festival (DSF) 2013, putting them on track in achieving its target revenue of USD400 million for the Fiscal Year 2012 - 2013.
“We are very pleased to report that ‘harman house’ fared excellently during this year’s DSF, the increase in AV devices sales affirms the country’s position as a leading market for consumer electronics,” said Amit Malani, President, Harman Middle East. “We are confident that the AV segment will continue to thrive in 2013 and maintain a continuous growth streak towards 2015. Rest assured, ‘harman house’ will remain true to its commitment of providing customers with the best-in-class headphones, docking stations, AV receivers, home theatre set-ups and sound systems.”