BenQ Canada Obtains No. 1 Marketshare in Projectors & LCD Monitors for Q3 2004
BenQ Canada has claimed the number one market share positions in Q3 2004 for projectors and LCD monitors, with 22 per cent and 24 per cent of the total market, respectively. The Company achieved this landmark, which it cites from figures by DTC World Wide (for the projectors) and Evans Research Corp. (for LCD monitors) only 11 months after launching its products in Canada. The Company's year-to-date revenue was CDN$94 million, with Q3 revenue up 52 per cent over the second quarter of 2004.
"Other manufacturers wait decades to achieve the type of stunning success that we've attained in less than a year," stated Jimmy Davlouros, Vice President and General Manager for BenQ Canada. "BenQ Canada will never settle for being a follower. We're a young, creative organization, determined to raise the bar on accessible, innovative consumer technology."
"BenQ has quickly emerged as a major player in the industry, especially in LCD technology," added Michelle Warren, Analyst with Evans Research Corp. "The Company had captured 10 and 14 per cent of the LCD market in the first and second quarters, respectively, before pulling in 24 per cent in the third."
According to Evans Research, BenQ’s 17’’ LCD monitor accounted for the bulk of revenues, while the 19’’ monitor experienced the largest increase in activity.
"We are thrilled with how quickly and thoroughly consumers have embraced BenQ Products,” Davlouros added. “And now that we've come this far, we're not about to rest on our laurels; our 2005 product line up promises to be even bigger and better, especially with the introduction of our new 8ms powerhouse 17" display."
BenQ expects to continue its success in the Canadian market in several categories, including LCD TVs and digital audio players; as well as optical disk drives, such as DVD recorders and CD burners, a category for which the Company is already the number two market share holder in, according to Evans’ reports.
Davlouros adds that he is extremely confident in BenQ's future financial success. "We estimate fourth quarter revenues to close at CDN$60 million, and we anticipate 2005 year end revenues to total CDN$250 million."
For more information, visit www.benq.ca.
