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Hyundai-Oatec to grab market
shareHome-grown original equipment
manufacturer Oatec Corp Sdn Bhd is hopeful of capturing a fair share of the
local printer toner market through its collaboration with South Korea’s Hyundai
Corporation to produce the Hyundai-Oatec printer cartridges, says Oatec
president Hamidah Osman.
President of Oatec
Corp Hamidah Osman (centre) explaining the print cartridges products to Deputy
Minister of Entrepreneur & Cooperative Development Datuk Khamsiyah Yeop (on
her right). Looking on are Hyundai Corp deputy GM brand business team
information & telecommunication div Kim Sung Soo (far right) and Hyundai
Corp GM Jung Duk-Kee.“Initially, we are
hoping to capture about 1% of the Malaysia printer toner market, which is worth
roughly about RM700 million. However, we see this number gradually increasing to
30%,” she said, adding that the company hoped to make RM7 million in earnings
this year from the new product.She was speaking to reporters at
the official launch of the Hyundai-Oatec “Print Cartridge” in Putrajaya .Hamidah, who holds 25% of the
bumiputera-majority owned Oatec Corp, said the company was also looking to break
into the lucrative global printer toner market, leveraging on its tie-up with
Hyundai Corp and its competitive pricing at 20-30% cheaper than
competitors.She said the world’s toner market
is worth an estimated US$12 billion (RM45.6 billion), growing at a rate of 10%
per annum.“There is definitely great
potential for us to enter the printer toner market, which is currently dominated
by the few big name brands like Canon and Hewlett-Packard. Not only are we
cheaper, but we are an original Hyundai alternative OEM product that is
compatible with all printers,” Hamidah said.Oatec has an extensive network of
distributors nationwide as well as a regional network in Singapore, Thailand and
Indonesia.
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