24 November 2012

Kenya: Sharp Targets 20 Percent Kenya Market Share

Electronics company Sharp has made a re-entry in Kenya through local partner PoleStars and says it is targeting a 20 per cent market share by 2014 up from the current 5 per cent.

To mark its fresh assault on the local market it has launched the first commercially available 80-inch LED TV and its latest Double French Refrigerator

Sharp's general manager for Middle East FZE Tagami Yasuharu said these products are part of the company's plan to capture the modern luxury lifestyle market. The company had slowed down its Kenya operations in past few years.

Kenya is the first market in Africa to have the 80-inch TV, making the country a focal point in its drive into the larger East African market. "Kenya is our gateway to East of Africa and we are very optimistic with our prospects here," he said.

Polestar's general manager Rakesh Singh, said Kenya leads in the evolution of technology and lifestyles, adding that luxury expenditure has been growing over the past few years.

"Kenya is at the forefront of socio-cultural development in the region and this is leading to rapid modernization of the typical Kenyan household" he said.

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