SINGAPORE--Creative Technology launched its latest portable music player on Monday, pledging to quadruple overall sales in its home market Singapore.
"Our revenue right now is about S$25 million (US$14.7 million) per annum in Singapore," said Creative chairman and CEO Sim Wong Hoo. "We have a goal of S$100 million (US$58.8 million) to be achieved in the next few years."
To reach this target, Sim is counting on half of the one million households in Singapore spending S$200 (US$118) on Creative products each.
"We are giving the channels, the dealers this target. Nothing is going to stop us," he added.
Sim is banking on his high profile in the island-state to sell more products, and has also prepped a seven-figure marketing kitty for the next six months.
He also has high hopes for the company's latest hard drive-based MP3 player, the Zen Touch, which is being pegged as a competitor for Apple's popular iPod device.
The Zen Touch comes with a 32-hour battery life, which Creative claims is three times that of the iPod. Like some versions of the iPod, it also comes with 20 gigabytes of memory and a touch-sensitive control panel. Expected to be available this month, the device is expected to be retailed at US$269.99.
According to Sim, Creative is targeting to sell one million units of such personal digital entertainment (PDE) devices each month by the end of 2004, an increase of more than 200 percent.
"The PDE market is exploding," he said.