Croatian company Šmit Elektronik is making waves in the gaming equipment industry, arriving at the IFA 2024 trade fair in Berlin with its latest brand, Baracuda. Following impressive growth this year, the company is leveraging the event to solidify partnerships and explore new opportunities in key markets, including Germany and Romania.
According to Stjepan Šmit, Director of Šmit Elektronik, the company has experienced a 20 percent growth in the first eight months of 2024. Their presence at IFA marks a return to one of Europe’s largest tech expos, where they previously exhibited in 2019 and 2022. This year, the focus is on business meetings with potential distributors, aiming to strengthen their position and expand distribution for their Baracuda and White Shark brands.
Introducing Baracuda for Competitive Markets
Šmit Elektronik’s new Baracuda brand is designed to compete in the lower price segment of gaming equipment, targeting customers looking for affordable yet quality alternatives to low-priced Chinese brands. In contrast, their well-established White Shark brand is now shifting toward the mid to high-end market, offering premium gaming products. This strategic dual-brand approach allows Šmit Elektronik to appeal to a broad range of consumers while maintaining product quality.
To promote their brands, the company has enlisted the help of over 80 influencers, helping to boost brand recognition and sales. Šmit reports that sales across all brands have grown by 30 percent this year, reflecting strong demand and market acceptance of their products.
Promising Start for Baracuda and Future Growth Plans
The Baracuda brand has shown promising results in its first six months on the market, and Šmit expects this momentum to continue. In addition to their gaming lines, the company is also seeing steady growth in their SBOX brand, which specializes in monitor and TV stands, cables, and other accessories. With a focus on innovation and expansion, Šmit Elektronik is planning new initiatives in production and assortment expansion, positioning itself for continued success in the future.
As the company moves forward, its growing presence at international events like IFA and its strategic partnerships with distributors across Europe will play a crucial role in driving future growth and further establishing Šmit Elektronik as a leading name in the gaming equipment market.
