Obi Mobiles has signed an exclusive agreement with Jumbo Electronics for the retail and distribution of its products. As per the deal, Jumbo Electronics will look after the distribution of Obi devices in the countries like UAE, Oman, Bahrain, Kuwait, Qatar and Iraq. Obi Mobiles has recently entered into the consumer tech segment and is the venture of the Singapore based IT supply firm called Inflexionpoint.
Speaking about Obi Mobile, John Sculley, co-founder and managing partner at Inflexionpoint, says, “The smartphone industry growth in emerging markets is soaring at +32% CAGR in 2014. It is vital to have very disruptive price points for success in emerging markets. At Obi, we are brand builders and sales channel builders on a global scale. We can be profitable at more aggressive price points than other multinational brands as we use youth-centric positioning and excellent partner relationships, such as Jumbo, which will differentiate us from other global brands.”
Commenting about the deal, Amit Rupchandani, Managing Director for the MENA region at Obi Mobiles, said, “We have earmarked substantial investments for expansion in the MENA markets, and are working to identify the right partners who have the capabilities to carry forward our vision. Jumbo Electronics has been one of the strongest players in the region’s consumer electronics industry for several decades now, and has a proven track record of reaching a growing population of smartphone adopters. We believe their position as a trusted retailer and distributor will help us tick off our targets for the region in the most efficient manner.”
On the other hand, on being associated with Obi, Vishesh Bhatia, chief executive officer at Jumbo Electronics, said, “Jumbo is pleased to be chosen as the exclusive channel partner for Obi Mobiles. A great addition to our brand portfolio, Obi offers a refreshing new take on smartphone technology that will appeal to the large section of young smartphone users in the country. With the smartphone industry in the region rapidly maturing to a multi-brand structure, new devices are more easily seeing acceptance and curiosity among consumers. We will look to leverage this trend, and in addition, reinforce our commitment to Obi through a dedicated sales and marketing team that will drive the brand identity across this market.”
Obi Mobiles entered into the Indian market this year and now it is all set to establish its footprint in the Middle East and Africa markets in phase two of its global expansion plans. Along with this the company will be unveiling its products by the end of September.