Major Saudi retailers pin hopes on new iPhone to boost sales

  • Date: 14-Oct-2020
  • Source: Arabian Business
  • Sector:Retail
  • Country:Saudi Arabia
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Major Saudi retailers pin hopes on new iPhone to boost sales

Jarir Marketing and United Electronics expect the new Apple launch to help their financials in Q4

Saudi Arabia's Jarir Marketing Co expects Apple's new iPhones to help boost its sales, joining a rival retailer in pinning their hopes on the product.

The iPhone launch will be “very helpful for us in the fourth quarter,” chairman Muhammad Al-Agil said in an interview with Bloomberg TV.

“There could be a challenge on the consumer wallet, but we think it might end up to be marginal.”

Stationary and electronics retailer sees an opportunity to open as many as five stores this year

He also said the company has opened three stores year-to-date with a couple of more stores opening by the end of 2020. He added that next year, it will plan to open about five to six