UAE Online Retail Showing Exponential Growth - PRNEWSWIRE

AWOK.com sees triple figure sales increase since its inception in 2013 

By 2020 experts predict that e-commerce sales in the GCC are expected to touch $41.5 billion, one of the highest growths across the industry worldwide1. Internet spending in the Middle East is on the rise and GCC countries are expected to experience a 40% growth in e-commerce by 2020 according to industry research analysts Frost & Sullivan. In the two years since the company was first created, AWOK.com has grown substantially, initially dealing in electronics and gadgets and now selling a wide-ranging versatile product selection of household appliances, jewellery, consumer electronics and health and beauty products with new products added to the website on a daily basis. The site was first established in April 2013 with the intention of bringing reliable, quality products sold at the most competitive prices to consumers in the UAE.

AWOK.com, the UAE-based online shopping platform hits the two-year mark in April 2015, boasting a phenomenal 500% increase in sales compared to its first year of trading. The online platform also announced it will be launching a mobile app for consumers to be released later on this year. Since its launch, the website has witnessed strong year-on-year growth as well as increasing its portfolio of consumer goods. The company has grown to employ over 200 staff in the UAE and looks to increase its offerings to other countries in the region. The company's success is a testament to the rapidly growing e-commerce industry in the region.

"AWOK.com's solid growth is testament to the brand's commitment in providing quality products at consistently low prices. Reaching this two-year milestone is a great achievement for AWOK.com and we look forward to achieving future growth in line with our third year targets. We are grateful to our loyal customers and are always striving for ways to identify and meet our consumers' needs. 2015 marks a big year for us with the introduction of our mobile app being made available to consumers later on in the year. Our consumers already understand that online shopping is safe, easy and fast, and with our new mobile application they will be able to order must-have products directly from their mobile devices," said Ulugbek Yuldashev, Managing Director of AWOK.com.

With a vast warehouse, speedy delivery across the UAE and one-on-one customer service, AWOK.comprides itself on being a leader in the Middle East's growing online market. Setting itself apart from other online shopping websites, AWOK.com operates all logistics in-house, allowing it to keep prices continuously low through sourcing directly from manufacturers, distributors and re-sellers. AWOK.com runs its own warehouse, a fleet of delivery vans as well as an in-house customer service team meaning that savings are passed directly on to the consumer. A promise to deliver to customers in the UAE within 12-24 hours and a dedicated aftersales tech support service on-hand ensures the company's goal to attain 100% customer satisfaction is on track.

For more information on AWOK, please visit www.awok.com


About AWOK.com
AWOK.com is the UAE's leading online shopping platform. The e-commerce site is home to reliable, quality products sold at the most competitive prices. Founded by Ulugbek Yuldashev in April 2013, AWOK.com initially sold electronics and gadgets however the company has grown substantially since, now selling a wide ranging, versatile product selection including consumer electronics, health & beauty, household appliances and jewellery with new items added to the website daily.

Source: http://www.prnewswire.co.uk/news-releases/uae-online-retail-showing-exponential-growth-498428891.html
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Smartphone owners in the UAE spend five hours a day on social media

Most smartphone users in the UAE spend five hours per day on social media apps like Facebook and Whats app, a new study has said.

The Connected Life report, carried out by the global market research firm TNS, found 86 per cent of users in the UAE spend that time browsing.

“Facebook and YouTube are the top contenders, but it is the new kid on the block – What Sapp – that is emerging as the most favored communication platform of the moment,” said Stephen Hillebrand, CEO of the Middle East division of TNS.

The study tracked 55,000 internet users across 50 countries. TNS said such trends offer opportunities for advertisers, but one psychologist warned spending hours online could be unhealthy.

Carey Kirk, programmer manager at Lighthouse Arabia, said: “While it is called social media, it’s not incredibly social. We are excluding things that give us a greater sense of connection in our lives – like actually meeting friends for dinner or a cup of coffee.”

She said prolonged use could lead to “feelings of depression and can create feelings of anxiety and loneliness”.

Some UAE residents said social media is part of their life.

“I personally use Twitter, Instagram, Facebook and Snap chat, and I am constantly checking them throughout the day,” says Aya Attia, a 26-year-old student from Sharjah.

But American expat Teresa Thayer, 32, said: “I deleted my Facebook a few months and I have never felt better.

“The obsession with social media is very unhealthy – people use it in place of real human interactions because its gives them a feeling they are spending time with people. It’s really sad when you think about it.”

Source: http://7daysindubai.com/smartphone-owners-uae-spend-five-hours-day-social-media/53334

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Sinks 39 per cent, Samsung’s profit hit by bigger iPhones

Samsung estimated to have sold 83m smartphones during the quarter, down 6 per cent from a year earlier

Seoul: Samsung Electronics Co. said its first quarter net profit plunged 39 per cent as consumers switched to bigger iPhones, squeezing earnings from its mobile business to less than half what they were a year earlier.

The company reported Wednesday that its January-March net profit was 4.63 trillion won ($4.35 billion), compared with 7.49 trillion won a year earlier. That was lower than the forecast of 4.97 trillion won in a survey of analysts by financial data provider FactSet.

The larger-than-expected drop was due to a big profit plunge in Samsung’s mobile business. The maker of Galaxy smartphones said its mobile division generated 2.74 trillion won in quarterly profit compared with 6.43 trillion won a year earlier.

Analysts estimate Samsung sold more smartphones than Apple during the quarter. But the Korean firm lost ground in the more profitable high-end market to Apple after the maker of the iPhone began offering models with bigger screens last fall. Before that, large screens were a feature that set Samsung phones apart.

According to Counterpoint Technology Market Research, sales of iPhones were also strong in countries where Samsung’s presence looms large, such as its home market South Korea and Vietnam, which has Samsung’s biggest phone factory.

Apple on Tuesday reported that it sold 61 million iPhones in the first three months of the year, an increase of 40-percent from a year earlier, which drove another quarter of blowout profits.

Samsung, which does not disclose its smartphone shipments, is estimated to have sold 83 million smartphones during the quarter, down 6 per cent from a year earlier, according to Counterpoint. But most of the sales increase came from mid-level handsets like the Galaxy A series, which sell for less than its flagship models. The period preceded the launch of the latest versions of Samsung’s flagship smartphones.

Samsung said is quarterly revenue fell 12 per cent from a year earlier to 47.12 trillion won while operating income dropped 30 per cent to 5.98 trillion won, in line with Samsung’s earnings preview earlier this month.

The Korean company said its profits will increase during the second quarter as the Galaxy S6, and S6 Edge with a curved screen, expand sales after their global launch this month. But the shipments of those high-end phones will not be big enough to offset an expected decrease in sales of middle- to low-end models, it said. Marketing expenses will also go up, pressuring its profit margin.

The initial sales of the S6 were “great” but the pre-orders of Samsung’s new smartphones were “no match to the iPhone 6,” said Tom Kang, director at Counterpoint.

Samsung is betting big on the Galaxy S6 series to claw back sales in key markets such as China, where it lost its leading position to Apple and Xiaomi. As part of its push to make new smartphones more attractive, Samsung acquired mobile-payment start-up LoopPay this year and introduced Samsung Pay, a mobile payment system on the latest Galaxy phones. The company also introduced new design elements to the S6 Edge phone, which has screens that curve.

Samsung said demand for the S6 Edge has exceeded expectations but limited supplies of the curved displays restricted sales. Park Jinyoung, vice president at Samsung’s mobile communications business, said supplies of the curved displays will improve during the second quarter.

Analysts said the improvement in Samsung’s mobile profit hinges on how quickly the company can catch up with demand for the S6 Edge smartphones, which cost about $100 more than the S6.

But even then, they questioned if the Galaxy S6 series would be strong enough to stave off competition from the bigger iPhones.

“The shipments of the plain S6 model and the Edge model will be not bad, but it won’t be surprising,” said Peter Yu, an analyst at BNP Paribas. “What is important is how many they can sell during the second half of this year.” Apple traditionally introduces a new iteration of the iPhone in the fall.

The only business that saw an improvement in profit during the first three months of this year was Samsung’s component division that supplies chips and displays for makers of smartphones and televisions, including Apple Inc. Samsung’s consumer electronics division that makes television sets had a bad quarter, losing 140 billion won.

Looking ahead, Samsung said its overall earnings will increase during the second quarter from the previous three months, as sales of premium smartphones such as its Galaxy series as well as the iPhones drive demand for its semiconductor products and display panels.

Source: http://gulfnews.com/business/sectors/technology/samsung-s-profit-hit-by-bigger-iphones-sinks-39-per-cent-1.1502122

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