Cobra 2005 Annual Report Download - page 13

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11
In Europe, no single manufacturer enjoys the majority share
of the marine electronics market. This open market is good
news for Cobra as it continues to promote its lineup of marine
electronics backed by the strong brand attributes of the Cobra
brand. Launched at marine after-market trade shows around the
world, the Cobra lineup of marine electronics has made major
inroads and is gaining traction in the market.
Such solid success in just two years in the marine category
bodes well for Cobra. In Sport Fishing magazine, a columnist
At METS in Amsterdam,
the largest trade exhibition
of marine equipment and
accessories in Europe,
Cobra displayed its marine
transceivers, power inverters
and chartplotters for the
European distributors.
writes, “Some of you may remember Cobra from back in the
Smokey and the Bandit CB days… it has very recently jumped
into the marine market with a line of inverters and both hand-
held and fixed-mount VHF radios. In light of Cobra’s more than
40 years of experience, it’s a mystery what the company was
waiting for.”
Announced in the latter part of 2005, Cobra entered into
a licensing agreement with Inter-Ocean Worldwide, LLC. By
licensing the rights to use the Cobra brand name and distinctive
snake logo, Cobra will enter several new home and auto
electronics categories with minimal cost by utilizing Inter-Ocean
Worldwide’s existing, highly cost-effective manufacturing and
distribution capabilities. Cobra anticipates the first licensed
products will be available for sale in the first quarter of 2006,
initially in the United States, Europe and South America.
As for the future for Cobra Electronics, innovation will
continue to be its driving force. And through innovation, Cobra
anticipates it will lead the transformation of different market
categories. Cutting edge technologies are part of consumers’
daily lives. Cobra is the company to bring these products to the
mainstream. A focus on state-of-the-art technology delivered in
a quality product to consumers at reasonable prices translates to
a powerful value proposition. The Cobra brand embodies that
value proposition. The Company’s products deliver that value
proposition. n