Vasant Menghani, Managing Director, TOUCHMATE.
TOUCHMATE, a subsidiary of Quality Group of Companies and a leading manufacturer, exporter and distributor of a wide range of branded computers, accessories and peripherals in the Middle East, has announced its financial results for 2005, with annual revenues up 48 per cent over the previous year.
TOUCHMATE saw a particularly strong growth in its recently launched software division that increased 50 per cent, contributing 5 per cent to the company''''''''s overall revenues. This strong performance is attributed to the company''''''''s strategic expansion plans and tie-ups with market giants, such as Plug-Ins, Geant, Sharaf DG, CompuMe and Hyper Panda.
2005 was another remarkable year for TOUCHMATE said Vasant Menghani, Managing Director, TOUCHMATE. Major client wins were complemented with new product introductions that accelerated progress and ensured record sales. Our portfolio started with 300 plus products and has now grown to include more than 650. Investments in technology doubled while customers responded very favorably to the improved quality of new product releases. These efforts enabled TOUCHMATE to realize its potential and gain large market share, and is a clear indication of our business strategies resonating with customers needs.
TOUCHMATE opened its software division in 2005 under the brand name Quality Gulf Information Technologies (QGIT) that has witnessed massive growth and won major clients in the region, such as King Star Insurance, Eagle Hunter, Graphic International, Empire Shipping, Century Glass and Three Star Jewelry. QGIT combines proven software development methodologies and a deep understanding of business processes to provide high-quality software products that include HR solutions, document handling solutions, custom application development, and data care solutions and services. QGIT has tied-up with several Indian software firms to develop their software, and it also has an experienced after-sales support team.
'We see a huge demand in the Middle East region for innovative software products, said Menghani.
Our recently launched software division has seen excellent overall growth as well as 50 per cent revenue growth. We have also started exporting our software products to countries such as Kuwait, Oman, Saudi Arabia, Qatar, Bahrain, Zambia and Seychelles. This is a direct result of our focus on innovative and competitive products that cater to rapidly evolving technology and swiftly changing customer demands.
We are committed to research and development and seek to maintain profitability while investing significantly in new product development. With a stream of new product and category launches in the pipeline for this year, we remain firm in extending our IT market leadership and continuing our strong growth, added Menghani.
The year 2005 also saw a renewed approach to TOUCHMATE's new product developments. Several products were introduced to the IT market, including the Mini Wonder laptop, LCD monitors, web cams, digital cameras, mini USB flash drives, speakers, home theaters, headphones, Divix player and MP3 players. With an extensive Research and Development section continuously striving to meet customer needs, TOUCHMATE has positioned itself as one of the leading manufacturers, exporters and distributors of information technology products in the region.
TOUCHMATE Middle East, founded in 1988 by Quality Group, has today evolved to become one of the leading manufacturers, exporters and distributors of branded computers, accessories and computer peripherals. With major clients including Carrefour, Costless, Plug-Ins, Lulu and Hyper Panda and associated with and supported by brands like Microsoft and Intel, TOUCHMATE has developed a significant image among its buyers, gaining more than fifteen million satisfied customers globally.
The Quality Group, which is fast emerging as one of the leading business houses in the region, has an annual turnover of USD 100 million. Through its diverse businesses and world-class partnerships, Quality Group delivers the best brands and the highest quality services to numerous customers worldwide. Group companies include Quality Computers, Computer Center, Quality Gulf L.L.C., Andy Enterprises, Shoe Center, King of Computers and TOUCHMATE.