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COWON Signs 62 Mil. Export Contract with Russia's Largest MP3 Distributor |
Date |
2006.02.13 |
COWON SYSTEMS (CEO Namkyu Park, www.cowon.com) announced the signing of an export contract for MP3 and PMP products to the tune of 62 million dollars over 3 years with Russia's Blade Group on the 13th of February.
Blade Group is Russia's largest IT distributor with the largest sales network in MP3 and PMP devices. It operates a sales network in major Russian cities as well as 15 former Soviet bloc countries including the Ukraine, Kazakhstan, and Estonia, while actively trading with large Korean companies. Cowon has positioned itself as Blades' largest supplier of MP3 and PMP devices with this contract.
The quantity to be supplied through this export contract is about 300,000 units over 3 years, which represents about 75% of the total exports for last year, and is considered a green light for stable exports over the next 3 years for Cowon. Particularly since their brand image can be enhanced through the steady supply of products to Russia and Eastern Europe where there is high potential and growth speed, which is expected to have a very positive impact on the market over the upcoming years.
COWON's Sales and Marketing Director, Kiwoong Lee, said, 'This year's MP3 market volume for Russia and East European countries will exceed 2 million units,' and that 'MP3 will mostly be supplied initially, but by actively introducing highly functional HDD type MP3 and PMP devices that are expected to soar in growth, we plan to leave a clear impression of Cowon as a leading company.'
COWON is raising the added value of their high-end brand in Europe and North America, and through recent dynamic export market penetration, they have shown positive results in new markets such as South America, including Chile, and are also showing solid growth in Saudi Arabia and the Middle East |
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