System builder Elonex has set itself an ambitious £150m revenue goal for the next 12 months after signing a slew of mass-retail partnerships.
Elonex has invested heavily in research and development (R&D) since it was rescued from administration last October by former IBM vice president Stuart Smith. It recently unveiled a range of digital convergence products.
With Woolworths and Asda already on board and other big deals imminent, the former public sector specialist is confident that it can re-invent itself as a retail powerhouse.
Nick Smith, marketing director at Elonex, said: “Elonex carried out a lot of R &D prior to our acquisition last year and we finished that this year. UK retailers are swallowing up the products.
“We have had to start from scratch, but we are anticipating a turnover of £150m over the next 12 months in the UK alone.”
Smith added Elonex is hunting for distributors to handle smaller orders from independent retailers.
Ian Keene, UK sales director at hard drive vendor Western Digital, said: “Those still left in the PC market have had to look at additional products and digital electronics through retail and e-tail is booming.”
However, Eddie Pacey, director of credit at distributor Bell Micro, said: “It will be tough for Elonex to hit those numbers, especially coming out of an insolvency.”
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