The top 1% of exports – Green Power Electronics, the role-model of newly exporting firms
With Apple’s iPhone sweeping the entire world with its popularity, the iPhone accessory market is also rapidly growing.
Green Power Electronics, a venture company established in 2008, is also a company specializing in iPhone and iPod accessories. They developed the iPod auxiliary battery pack in 2009, which earned a genuine Apple product certification for its usefulness in extending iPod battery life.
Following their success with iPod batteries, Green Power Electronics moved onto iPhone accessories. Apart from simply adding an additional battery, they made it possible to use the iPhone as a portable MP3 player, complete with speakers and a cradle. When the iPhone 4 was released, they developed accessories that has DMB reception capabilities, always being one step ahead of their competitors.
Green Power Electronics searched for plans to release their iPhone battery packs in the international market. Although they already attended an exhibition abroad in 2009, they wanted to be more structured and planned for the upcoming 2010 exhibition, and registered to attend ‘New Exporters 300’. New Exporters 300 is a program run by the KFTA (Korean Foreign Trade Association) where 300 companies with export-promising products and intentions to export are trained to become successful exporting firms.
Green Power Electronics, being one of the New Exporters 300 with their excellent product, used the help of the foreign business relation discovery system to begin their international marketing. They also obtained detailed information on upcoming exhibitions to plan their attendance and target the correct market.
A consultant from Trade SOS visited Green Power Electronics to pass down the knowledge, procedures, the marketing know-hows, and how to deal with buyers. Furthermore, Green Power Electronics also learned about the trade support system run by various organizations, and obtained funding for their ventures.
Green Power Electronics only made 401 thousand dollars from sales in 2009. Through their detailed international marketing strategy ever since, in 2010 they are contracting with major US suppliers such as Costco, Sam’s Club, Techdata, and BestBuy, as well as European telecommunication companies such as Orange, T-Mobile and O2.
Especially now in late May of 2010, exports by shipment is only at $90,000, however, based on contracts sales have already reached 3 million dollars and final sales at the end of the year is expected to be 7 million dollars (1740% increase from previous year).