Grandstream's Region-specific Growth Strategies for the Latin American IP Desktop Phones Market Recognized by Frost & Sullivan
Tailored solutions for specific segments and strategic partnerships in key countries have earned Grandstream double-digit growth rates over the last five years
SÃO PAULO, Jan. 22, 2019 /CNW/ -- Based on its recent analysis of the Latin American Internet protocol (IP) desktop phones market, Frost & Sullivan recognizes Grandstream Networks, Inc. with the 2018 Latin American Growth Excellence Leadership Award for achieving above-market average growth rates by implementing region-specific business strategies. The company's competitive pricing and diversification have helped it experience sustained double-digit growth over the last five years and a 40% year-over-year growth rate in 2017, to become the fastest growing company in the IP desktop telephony market.
Grandstream entered Latin America when devices were priced at approximately $500 and a handful of providers dominated the IP desktop phones market. The company introduced several open-session initiation protocol (SIP) desktop phones for approximately $100, thereby completely disrupting the market. The competitive price points enabled the market to expand into the small- and mid-sized business (SMB) segment, making Grandstream the vendor of choice among Latin American companies looking for affordable IP desktop phones with modern functionalities and easy integration with third-party PBX systems.
"A strong value proposition customized for different market segments and deep relationships with many business partners in key countries, such as Argentina, Brazil, Colombia, Mexico, and Chile, have positioned Grandstream as the undisputed growth leader," said Sebastian Menutti, Senior Industry Analyst. "Furthermore, the company has developed an extensive portfolio of enterprise communications platforms and endpoints, including low-, mid-, and high-end IP desktop phones; IP PBX systems; surveillance systems; and video conferencing services, which help it serve larger enterprises and government agencies."
By enlarging the scop of its solutions, Grandstream became an end-to-end provider in the enterprise communications landscape and cross sells to broaden its business. In addition, the company offers comprehensive and personalized customer support for both large enterprises and SMBs on-premise, thereby ensuring superior problem resolution.
"Throughout its history, Grandstream has disrupted the marketplace, pushing down the overall prices in the market and raising the standards of quality and functionality among IP desktop phone providers," noted Menutti. "In spite of the increasing competition from low-cost providers, Grandstream continues to increase its brand equity by delivering additional value at every touch point to its Latin American customers and ultimately positions itself for further market expansion."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. The award recognizes the superiority of the product/service as well as the overall customer, purchase, ownership, and service experience offered, which has resulted in the recipient company seeing above-market growth and greater share of wallet. The award lauds the recipient company's growth, diversification, and sustainability strategies.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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SOURCE Frost & Sullivan