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COWON Wins 5 Million Dollar Export Trophy on 41st Trade Day |
Date |
2004.11.26 |
- Cowon wins Five Million Dollar Export Trophy for exports of MP3 players amounting to US$9.5 million
- CEO Park Nam Gyu receives President's Award for contribution to national exports
- Next year's export goal is US $65 million, a seven-fold increase
November 26, 2004, Seoul - Cowon Systems (CEO Park Nam Gyu, www.cowon.com) won the 'Five Million Dollar Export Trophy' in a celebration ceremony for the 41st Trade Day held at the COEX center in Samsung-dong on November 26. In addition, CEO Park Nam Gyu enjoyed the honor of receiving the President's Award for his contribution to national exports.
CEO Park Nam Gyu expressed his ambition, saying, 'Our MP3 player iAUDIO, has been well received in the USA, Japan, Europe and China, and is playing a leading part for our exports. We will keep developing global digital multimedia markets next year and continue to grow exports.'
During the past year from the second half of 2003 to the first half of 2004, Cowon Systems sold US $9.5 million worth of its portable MP3 player iAUDIO in North America, Asia and Europe, a mere half million dollars short of 10 million. Cowon Systems's export goal for next year is US $65 million or about six hundred thousand units, a seven-fold increase from this year.
On the other hand, Cowon Systems is now avoiding the short-term oriented ODM (Original Development Manufacturing) business and focusing on its own brand marketing in the USA, Europe, Japan, and China with a long-term brand strategy. As a result, iAUDIO was chosen as the top selling HDD-type MP3 player by Yodobashi Cameras, the largest electronics distributor in Japan. And in the US, iAUDIO received the 'CNET Editors' Choice Award' after an evaluation by CNET's IT professional critics group, and Newsweek recently chose Cowon's HDD-type MP3 player iAUDIO M3 as one of the Best of the Best New Year Gifts. |
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