Edison Electronics Ltd.’s business strategy changes, single brand showroom to multi-brand showroom. (Financial point of view)

Abstract

Mobile phone has become an essential part of our daily life which is not a luxury product anymore due to technological advancement and innovation. EDISON Group, one of the encouraging and evolving business groups in Bangladesh founded with the aim of enhancing all aspects of life for the customers with powerful brands, reliable products and services. ‘Symphony’ is the brand launched by the EDISON Group in 2008 which became the market leader in 2010. In November 2013, EDION Group started a new company ‘Edson Electronics Ltd.’ for their retail mobile business of Symphony. The aim of starting Edison Electronics Ltd. (EEL) was to server the end customers directly with their best products and services. EEL did very good business in 2014 to 2016, but after that the whole retail mobile market scenario changed because of some new global brands availability in the market. EEL tried their level best to compete with their only brand Symphony, but for the growing customer demand and in competitiveness of the brand Symphony, Edison Electronics Ltd. changes their business strategy and became the first authorized multi brand mobile seller in the retail market.