Cambodia’s economy has enjoyed robust growth for a decade, contributing to a significant reduction of poverty.
The government has projected that Cambodia will become a middle-income country by 2015 and that income per capita will reach more than $1,000.
With an increasingly affluent middle class, technology and electronic sales in the country are growing at a fast pace as a variety of well-known brands attempt to conquer the market.
Nep Chantavy, general of manager of K-Four, a local company that imports well-known electronic brands like Samsung and Sony, talked to the Post’s Rann Reuy about the change in Cambodia’s market.
When did you start your business?
The company started in 1994 with a small capital investment of just $5,000 from Kith Seng Sorya, who was both the owner and the employee at the time. In the beginning, he was the only one importing these products. Later on, as his business kept growing, he hired some workers including his relatives. Originally, the company was called Sensorysim, changing to K-Four in 2000.
How many branches do you have now?
Presently, we have seven branches in Phnom Penh, one in Siem Reap and another in Battambang province. We also distribute for sale in the market and have plans for more outlets in other markets.
How did you feel about the market?
We have political stability and the economy is growing really fast. You see more and more investors are coming, more and more new factories are opening, and people can make more money.
Presently, most electronic products on the market are secondhand, but more and more brand new products are coming on to the market.
What do you think about that?
I believe that the number of second-hand products are decreasing day by day because our people are starting to understand the benefits of using the high-quality products. I think that as incomes grow over the next few years, people will want brand-new products more and more.
How many kinds of products does your company have?
We have a lot of well-known brands and high-technology products such as Sony, Hitachi, Panasonic, Samsung, LG and Toshiba.
What is your view on the future of Cambodia’s electronics market?
It will be much more developed. I predict that in the next five years, Cambodia’s economy will be much stronger so that big companies like ours will have greater potential to grow.
We also plan to expand and open more branches to become more accessible to our customers.
Your products are electrical and our electricity costs are considered high compared with our neighbours. What does that mean for your business?
Right now, we have more electricity coverage, especially in Phnom Penh and other main provincial cities. At the same time, we also get more electricity from many other sources. Even in rural areas, people have access to electricity. I do believe that electronic products will be used much more.