Oatec Corp. Sdn Bhd, a Malaysia-based OEM, is seeking to capture a segment of its local toner cartridge market by striking a partnership with South Korea-based Hyundai Corp., an international electronics and automobile manufacturer. Hyundai has granted licensure to Oatec to produce, market and distribute toner cartridges under the combined company and Hyundai-Oatec brand.
According to Malaysian financial and investment Web site The Edge Daily, Oatec President Hamidah Osman at the official product launch on May 16 said, “Initially, we are hoping to capture about 1 percent of the Malaysia printer toner market, which is worth roughly about RM700 million (US$185 million). However, we see this number gradually increasing to 30 percent.” Osman also said she was hoping that these new cartridges will earn the company an estimated RM7 million ($US1.8 million) this year.
“There is definitely great potential for us to enter the printer toner marker, 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,” Osman said.
Osman said that with Hyundai Corp.’s international leverage, she is also hoping the Hyundai-Oatec cartridges will soon enter the global market, offering products at prices 20 percent to 30 percent cheaper than its closest competitors. The company’s aggressive international aspirations were confirmed on its Web site where it stated, “In a move to expand into new markets globally, Oatec is exploring ties with potential parties to establish relationships.”
Currently, Hyundai-Oatec’s Web site lists cartridges and accompanying supplies for a variety of Canon, HP and Ricoh machines.
