Digital technology leader, Samsung announced the appointment of Singer Bangladesh as its new distributor for Consumer Electronics Products in the country on August 16, 2006. The MOU between Samsung and Singer Bangladesh was signed by Mr. S. H. Oh, President & CEO, Samsung India Electronics Ltd. and Mr. Gavin Walker, President & CEO, Singer Asia in the presence of Mr. Mahbub Jamil, Vice President, Singer Corporation and Chairman & Managing Director, Singer Bangladesh; Mr. R. Zutshi, Dy. Managing Director, Samsung of India; Mr. Y. Y. Kim, Director, Samsung India and other senior representatives of both the Companies. With the appoint of Singer, Samsung’s Consumer Electronics business which was being handled by Electra International will be strengthened considerably. Samsung’s IT business will continue to be handled by Smart Technologies and Index IT Ltd.

“We plan to double our business in Bangladesh this year based on our strengthened product portfolio and enhanced channel and service network”, states Mr. Zutshi. The Company plans to grow the Bangladesh market by continuously introducing its latest technology, innovative products in LCD TV, Slim / Ultra Silm Flat TV, Side by Side Refrigerator and other hi end categories along with the Conventional product categories. Samsung is also planning to enhance its presence in the large format Singer Brand Shops by setting up Samsung displays or ‘Shop in Shop’, as they are called. The Company which currently has around 23% market share of the Consumer Electronics and IT Market in Bangladesh aims to increase its market share to around 35% in one year’s time. The Company’s IT Product Portfolio in Bangladesh includes IT peripherals like Colour Monitors, Hard Disc Drives and OMS products.

President & CEO of Singer Asia Mr. Gavin Walker said “As a retailer our primary concern is offering our customers the widest range of quality products at affordable prices with great customer service. The Samsung partnership will greatly enhance our ability to achieve this and will further boost the growth of our business. Today’s announcement further strengthens our regional co-operation with Samsung which is also very strong in Sri Lanka and Thailand”.

About Samsung Electronics

Samsung Electronics Co. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2006 parent company sales of US$63.4 billion and net income of US$8.5 billion. Employing approximately 138,000 people in 124 offices in 56 countries, the company consists of five main business units: Digital Media Business, LCD Business, Semiconductor Business, Telecommunication Network Business and Digital Appliance Business, Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs.