ValueTech, a Nigerian technology company, has announced the launch of its new consumer electronics brand, Tolex. This was disclosed by the company during the brand’s launch which was held at the prestigious Marriott Hotel in Lagos.
Speaking during the launch, Chief Executive Officer of ValueTech, Alex Fagbamigbe, who himself is a former electronic gadgets dealer, said the Nigeria-focused electronic brand was designed with the Nigerian consumer in mind. As such, it offers a balance of functionality, aesthetics, and affordability.
“Our products are designed with the Nigerian customer in mind. We have an unwavering commitment to innovation. We are crafting technology that integrates Nigerians with the capacity to do more,” the Chief Executive Officer said.
As part of its initial product lineup, Tolex is launching a range of feature power bank models with extended battery life. Other offerings include sleek Bluetooth speakers, wireless earphones that provide premium audio experiences, and stylish smartwatches with exciting features.
The company is also not shy about stating its price. For the power banks which are its flagship products, the Thor 10,000mAh costs N14,000 while the Thor Pro 10,000mAh which 75 per cent power energy conversion rate costs N16,000. The Zeus 10,000mAh costs N19,000, the Zeus Pro 20,000mAh costs N26,000 and the Zeus Pro X 30,000mAh costs N30,000.
There is also the Super Capacity 20,000mAh which costs N24,000. All these power banks have supercharge capability and they come with three to five outputs. They also come with various power cords to aid with charging and energy redistribution.
The company says its products are designed to meet the demands of Nigeria’s tech-savvy population, which is experiencing increasing smartphone penetration, contributing to the rise of electronic gadgets with advanced features.
ValueTech’s Tolex is looking to make an impact across Africa
The Tolex brand is the product of ValueTech, a Nigerian consumer electronics company dedicated to delivering innovative and affordable technology to the Nigerian market. The company emphasizes quality, design, and customer satisfaction. With the launch of its consumer electronics brand, the company is aiming to empower Nigerians in the digital age.
Revenue in the African consumer electronics market is expected to reach $75.3 billion. ValueTech says it is targeting just 1 per cent of the market value ($202 million). This, the company believes, will establish Tolex’s potential impact on the Nigerian market while emphasising ValueTech’s commitment to local innovation.
This ambitious goal, the company says, reflects its confidence in the brand’s potential to disrupt the Nigerian market and its commitment to local innovation.
Speaking during the launch, the President of the Lagos Gadget Dealers Association, Emmanuel Jongvo said the products appear to be more innovative.
“After much comparison, Tolex products are more innovative. For instance, the power banks have been designed to comply with aero and train rules that exist during international travel. Servicing the masses on affordable prices could be challenging, but that is what the markets with quality. Re-sellers will support the brand but it must come with incentives,” he said.
Despite its seeming novelty, Chief Executive Officer, Fagbamigbe says Tolex is, however, no stranger to the market. With his own requisite experience as a consumer electronic dealer and an innovator, the CEM is confident of the product’s ability to rival market competitors.
Speaking during the launch, the Director of Admin and HR at the Lagos State Real Estate Regulatory Authority (LSRERA), Omotosho Saheed said the ability of the power bank to charge phone devices rapidly is its key feature.
“This product will add value to the market. This is purely Nigerian and for Nigerians to enjoy. Tolex has a lot to offer to people in Africa and the world,” he said.
Tolex products are available for purchase at Suite 116 Foramot Plaza, Somoye Osundairo Street, Off Oremeji Street, Computer Village, Ikeja, Lagos. Other outlets around the country also will be selling the Tolex brands. The product also has a one-year warranty provided the user takes good care of the device.
See also: Nigerian universities tasked with building electric buses in NADDC EV competition
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