On the 10th of April 2011, the Bulgarian unique LED products maker Megatex Inc will celebrate 22 years market presence – an achievement not only for Bulgaria but on a global scale.
Statistics show that solely 5% of the companies worldwide survive by the 10th year after their formation and under 1% still operate after the 20th year. Megatex managed not just to survive but to make its market presence a successful story and become famous in 40 world countries.
In Bulgaria, Megatex holds the monopoly over currency information displays and last year the company hit 30 000 currency information displays sold worldwide. The large LED walls, towers, sport and transport information systems can be seen from afar on the streets of Malta, Turkey, Qatar, Uzbekistan, the UK, Norway.
The company was founded in 1989 by a group of specialists – colleagues from the Bulgarian Institute for Electronics. One of the company’s founders – Nikolay Zarkov, has been president and CEO of Megatex since the formation of the company. 22 years ago, Megatex made its breakthrough in the international market for LED technologies and several years later, in 1991, it astonished the world with its monochrome LED screen with red diodes – one of the first developments in the field of LED at that time. Three years later, the company introduced its first full-colour LED screen to the international market.
This successful start was followed by a major growth in the next few years – the company’s annual turnover jumped 100% every year between 1989 and 1996.
What distinguishes Megatex, is the fact that it is not a pure LED products manufacturer. Ever since its formation, the company has been making unique, designer, custom-made products, which resemble a piece of “technology art” and are therefore loved by the firm’s customers.
In 2011, the company expects an increase in its revenue thanks to its recent SOLLED development – a LED screen powered by a solar system. Other than that, the work in the banking sector through the years allows the company’s team to follow and preview the development of the information technologies in this sector. This is why the company sees a great potential for its business in the field of banking equipment and intends to concentrate its efforts also in this sector.
What is the key to such a success? The ability to profit from originality as well as the high profits, which high technologies “go” with.
As far as of the company’s team – the constant creative work, friendly environment and of course the international success of the firm keep the team enthusiastic and retain its innovative approach to everything it does, to the company’s products and to the market. In this sense, you could say that not only the company Megatex but also its members turn 22.
