Extra's partnership with Noon.com to boost market share, says CEO

United Electronics Co.'s (eXtra) commercial partnership with Noon.com will likely boost market share as the company will expand its customer base in the Kingdom, providing an integrated set of services, chief executive Mohamed Galal told Argaam.

The deal comes in line with Extra’s strategy to provide a large selection of home appliances and electronics at low prices.

Customers can buy the company’s products from its stores in 26 cities around the Kingdom, or through its online platform or Noon.com. Different payment options are available such as cash-on-delivery, online payment, or payment in installments.

Extra said earlier today that it has launched a commercial partnership with Noon.com, making it the platform’s exclusive supplier of electronics and home appliances in Saudi Arabia.

Noon.com is a $1 billion investment 50 percent-owned by the Saudi sovereign wealth fund, Public Investment Fund. The other half is owned by Mohamed Alabbar, chairman of Dubai-based Emaar Properties, as well as other regional private investors.

Established in 2003, Extra was listed on the Saudi Stock Exchange (Tadawul) in 2011. It has a network of 43 branches in Saudi Arabia, Bahrain, and Oman.