GE cameras: 15 percent market share in the Philippines. But why not Singapore?
Although you can’t own one of their jet engines, you can now boast of a GE logo in your pocket with one of their latest cameras, launched in Singapore this week.
Better known for its diverse portfolio in finance, healthcare, energy, transportation and infrastructure, General Electric licensed its brand to General Imaging Co. (GIC) which made its entrance into the compact camera market in 2006. Although its 2008 entrance in Singapore was shortlived, GIC found success in some markets such as the Philippines where they currently enjoy more than 15 percent market share and are hungry to grow their footprint in Asia.
This week, GE cameras are making a comeback in Singapore and this geek caught up with Mr. Hiroshi Seki, president and chief operating officer of GIC to find out more.
On why GIC chose the GE brand, Mr. Seki mentioned that although they have considered coming up with their own brand, they felt that the camera market was already close to maturity. GIC still saw growth opportunities but felt that strong branding was critical, which is why they decided to license a popular American brand like GE which has proven to be the right strategy if you look at their success in a market such as the Philippines. Although entering this market has not been easy, GIC looked at their success in the Philippines and asked themselves, “Why not in Singapore?”
Read the rest of the article at CNET Geekonomics.