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The company plans to launch operations in Uganda and Rwanda in the near future to widen its network
Kampala, Uganda | THE INDEPENDENT | Electronics manufacturer, Maser’s operations in African Sub Continent, has recorded a 38% growth in revenue to US$500million in the fourth quarter of 2022.
Maser’s financial results released last week also indicates that the company registered a US$130million gross profit —citing dominance in African Continent where it continues to enjoy a huge market segment.
The success is also attributed to sales of more than US$500 million in the year ending December 2022 compared to the revenue sales registered in the previous financial year.
Maser is also tightening grip on the Kenya, Tanzania, Malawi, and Gambia and Nigeria as key market destinations.
The Independent also understands that Maser, one of the most admired technology and first highest wearable brand in Africa, also plans to launch operations in Uganda and Rwanda in the near future after wide acceptance in African markets.
Maser’s founder and CEO, Prateek Suri says the company’s continued growth in Africa is fueled by the commitment to be a part of the continent’s growth and prosperity.
Suri, a respected young Indian business leader in the tech world having founded and steered Maser, says the company’s major secrets are initiated on meeting the supply of high-quality yet affordable items to the masses in economically underprivileged countries. The company’s principal areas of business involve consumer products Manufacturing that includes; Consumer Electronics, Audio Equipment, Video Equipment, Appliances, and Telecommunications Equipment among others.
Research shows that populations of the future will demand even larger screens. But to maintain the same clarity, Maser has incorporated more technologies to maintain the quality of every picture.
“Our Artificial Intelligence team has been working around upscaling the quality of videos shot on High Definition (HD) cameras to smoothly fit into our 4K screens. That keeps TV content bright enough and engaging, as we plan to launch 8K resolution screens soon,” Suri adds.
Using technology to raise the quality of devices, Maser is also manufacturing and supplying quality air conditioners that are also the most affordable for consumers in Africa.
For Maser, being under the age of ten since its establishment is not a barrier, because it is not the first time the company has shown maturity through its high-quality products.
In 2020, the brand reached a volume of more than 200,000 units in sales in television and which later tripled to 600,000 Units of LED TV, making it the first brand to sell the highest number of units in Africa as per various mainstream media houses across countries.
Maser enjoys a huge market share in all the souks where it has a presence for offering Low- Cost Segments – and also beating Chinese rivals including Hisense and TCL and also rubbing shoulders with Samsung, Sony, and LG.
To Suri, the future of Africa’s electronics market is rosy, as the continent’s average age is only 19 and will contribute to a huge demand for electronics in the coming decades.
