Japan's multimedia giant, Sony, has shelved plans to set up a GSM mobile phone assembling facility in Iran, according to a senior company official.
The official was quoted by the Gulf News as saying that "we have decided, for the time being, not to explore the possibility of a venture in Iran. As of now, we do not know whether we will take it up at a later stage."
No reasons were provided for the shelving of the plans, said the daily, which called the Iranian market one with huge potential for GSM handset vendors.
The last two years have seen GSM infrastructure installed across the country, and issuance of SIM subscriptions has so far not matched the demand, said the paper.
According to the report, Sony's Jebel Ali base generated revenues of $540 million in the last financial year, and forecasts for 2001 are for growth of 10 percent.
GSM sales contribute about five percent of current turnover.
The company has a 50 percent market share in the camcorder and hi-fi categories, and 30 percent each for color televisions and digital cameras.
Also in the industrial sector, Rover recently denied having plans to build a plant in Iran – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
