Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Sennheiser Middle East Sees Profits Soar 62% in 2013 with Upturn in Regional Broadcasting Industry  Join our daily free Newsletter

MENAFN Press - 02/02/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN Editorial) Increased regional adoption of conference and translation systems, the Middle East broadcast industry's ambitions to match global standards in audio systems design and deployment and an increased usage of wireless audio systems in smart classrooms, has resulted in another year of significant double-digit growth in the Middle East for the Sennheiser Group, one of the world's leading manufacturers of microphones, headphones and wireless transmission systems. The company recorded an unprecedented 62% year-on-year (YOY) increase in gross profit in the region owing to a number of project wins in the education and hospitality sectors and a notably strong performance in the consumer electronics segment in which the company saw revenues increase by 52% in 2013



Mr. Mig Cardamone, sales and marketing manager at Sennheiser Middle East believes that the fresh wave of spending in the region presents a huge opportunity for the company. "There is no doubt that market confidence has returned and investments are now in full swing. It is an exciting time to be a part of this development. Our success has been due to our ability to act quickly and to leverage our strong product portfolio, extensive partner and distributor network and streamlined regional logistic and supply chain capabilities. In 2013, we managed to make inroads into a number of new vertical markets as an increasing number of organizations have begun to explore the possibility of utilizing professional audio solutions to gain competitive advantage," he said



As regional businesses increasingly begin to compete on a global stage, the adoption of conference and translation systems has been a notable trend. Sennheiser was quick to cater to this demand and through its system integrator partners implemented a number of such solutions across the region. The company also maintained its strong penetration in the education market where wireless audio systems are becoming a standard piece of equipment in smart classrooms.



Last year, Sennheiser introduced the Digital 9000 wireless microphone system, it's st innovative wireless audio solution. The system has quickly gained popularity as a 'must have' piece of technology, particularly in the Middle East's thriving broadcast industry. According to Mr. Cardamone, the region is now matching global benchmarks in audio systems design and deployment. He highlighted the example of a landmark project for a military band's recording studio in Oman where high-end wired microphones from Sennheiser and Neumann, as well as 16-channels of Sennhesier's new Digital 9000 series wireless microphones were installed to create a world-class studio




Alongside the continued growth in the professional audio business in the region, Sennheiser increased its focus on the consumer electronics market with an expansion of the division's sales team and marketing spend in 2013. The result has been a 52% YOY increase in business that affirms the company's commitment to this segment whilst the audio expert continues to expand on its distribution footprint. Mr. Cardamone predicts that the consumer electronics business will continue to grow and contribute in excess of 40% to the company's overall business within the next three years, which is in line with the Group's overall performance



Looking forward, Sennheiser has clearly defined its strategy for 2014. With new solutions for teleconferencing and mobile digital audio streaming, the company hopes to diversify its offerings and tap into new markets. "TeamConnect is an all-in-one teleconferencing solution for small meeting rooms that brings professional audio quality and standards into an area of the market that could truly benefits from such advancements," said Cardamone. "We will also unveil an innovative mobile digital audio streaming device and mobile app that will open up a new range of possibilities for our professional audio business that will have a direct benefit for the consumer."



These solutions will be launched at the upcoming Integrated Systems Europe (ISE) 2014 event in Amsterdam and will be made available in the local market through the company's regional distribution channel


About The Sennheiser Group
The Sennheiser Group, with its headquarters in Wedemark near Hanover, Germany, is one of the world's leading manufacturers of microphones, headphones and wireless transmission systems. In 2012 the family company, which was founded in 1945, achieved a turnover of around 584 million euros. Sennheiser employs more than 2,300 people worldwide, and has manufacturing plants in Germany, Ireland and the USA. The company is represented worldwide by subsidiaries in France, Great Britain, Belgium, the Netherlands, Switzerland and Liechtenstein, Germany, Denmark (Nordic), Russia, Hong Kong, India, Singapore, Japan, China, Australia and New Zealand, Canada, Mexico and the USA, as well as by long-term trading partners in many other countries. Also part of the Sennheiser Group are Georg Neumann GmbH, Berlin (studio microphones and monitor loudspeakers), and the joint venture Sennheiser Communications A/S (headsets for PCs, offices and call centres).You can find all the latest information on Sennheiser by visiting our website at www.sennheiser.com.

 


MENAFN Press




  MENA News Headlines
 Mar 28 2017 - Kan Yama Kan Inaugurates a 2000-book School Library in IndiaMENAFN Press
(MENAFN Editorial)The Kan Yama Kan (Once Upon a Time) initiative, a subsidiary of the UAE Board on Books for Young People (UAEBBY), has recently inaugurated a 2,000-book library at the Naushera Mewat ...

 Mar 28 2017 - KIB’s showjumping team earns new accoladeMENAFN Press
(MENAFN Editorial)The Kuwait International Bank (KIB) showjumping team recently earned a new impressive accolade, adding to its growing roster of achievements, with jockey Ahmad Al-Mudaheka nabbing ...

 Mar 28 2017 - Munich’s Bayerischer Hof Hotel to spend $11 million to increase share of projected 3.6 million GCC visitors to Germany by 2030MENAFN Press
(MENAFN Editorial)The historic Bayerischer Hof Hotel in Munich is to spend over EURO12 million ($11 million) on a renovation project aimed at attracting more GCC visitors. The multi award-winning ...

 Mar 28 2017 - Bank Muscat - Ratings Lowered in line with Recent Oman Sovereign Rating Action Outlook Revised to StableMENAFN Press
(MENAFN Editorial) 28th March 2017 Bank Muscat’s Ratings Lowered in line with Recent Oman Sovereign Rating Action; Outlook Revised to ‘Stable’ Capital Intelligence Ratings (CI Ratings or CI), ...

 Mar 28 2017 - H.E. Alfadhel Mohamed Al Harthy, Secretary General to the Cabinet inaugurates the 1st Edition of Smart City Summit OmanMENAFN Press
(MENAFN Editorial)The 1st Edition of the Smart City Summit Oman was inaugurated by H.E. Alfadhel Mohamed Al Harthy, Secretary General to the Cabinet at the Oman Convention & Exhibition Centre on 28th ...

 Mar 28 2017 - Sharjah Officially Launches its Childhood Protection NetworkMENAFN Press
(MENAFN Editorial)As part of its overall development strategy, and its efforts to provide a safe life, excellent childcare and to protect children’s rights, the Emirate of Sharjah launched the ...

 Mar 28 2017 - Al Mazaya Holding endorses 8 percent of share nominal value in cash for Shareholders in 2016MENAFN Press
(MENAFN Editorial)Al Mazaya Holding’s Ordinary General Assembly convened on Tuesday, March 28 2017, at Al Mazaya Tower, strategically located in Al Mirqab Area in Kuwait City, one of the company’s ...

 Mar 28 2017 - Sharjah to Showcase its Leading Integrated Business Environment at AIM 2017MENAFN Press
(MENAFN Editorial)Sharjah FDI Office (Invest in Sharjah) - the promotional arm of Sharjah Investment and Development Authority (Shurooq) - has announced that it will participate at the seventh ...

 Mar 28 2017 - In the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, H.E. Essa Kazim, Governor of DIFC, welcomes President of the Republic of Kazakhstan and distinguished delegationMENAFN Press
(MENAFN Editorial)His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), earlier this week welcomed His Excellency Nursultan Nazarbayev, the President of the Republic of ...

 Mar 28 2017 - City Centre Rotana Doha celebrates Vietnamese Food Week with Iron Chef Michael BaoMENAFN Press
(MENAFN Editorial)Teatro, City Centre Rotana’s specialty signature restaurant, in partnership with Emirates Airline will host a Vietnamese Food Week featuring award winning Iron Chef Michael Bao ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help