ValueTech, a Nigerian technology company, has launched Tolex, a new consumer electronics brand designed with the Nigerian consumer in mind. It offers a balance of functionality, aesthetics, and affordability.
The Tolex range features power banks with extended battery life, sleek Bluetooth speakers, wireless earphones that provide a premium audio experience, and stylish smartwatches with exciting features.
“Our products are designed with the Nigerian customer in mind,” said Alex Fagbamigbe, the company’s Chief Executive Manager, at the launch, which was held on Thursday at the Marriott Hotel in Lagos.
“We have an unwavering commitment to innovation. We are crafting technology that integrates Nigerians with the capacity to do more, “Fagbamigbe added. The initial product lineup includes two power bank models, a 20,000mAh unit priced at ₦24,000 and a 30,000mAh unit at ₦32,000, along with various power cords.
These 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. Additionally, revenue in the African consumer electronics market is expected to reach $75.3 billion. Tolex is targeting 1% of the market at $ 202 million, consequently establishing Tolex’s potential impact on the Nigerian market and ValueTech’s commitment to local innovation. This ambitious goal reflects the company’s confidence in Tolex’s potential to disrupt the Nigerian market and its commitment to local innovation.
“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,” Emmanuel Jongvo, President of Lagos Gadget Dealers Computer Village.
“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.”
Tolex is no stranger to the market, Fagbamigbe asserts. Having requisite experience as a consumer electronic dealer and an innovator, the CEO is confident of the ability to rival market competitors. The ability of the power bank to charge phone devices rapidly is a key feature. The product also has a one-year warranty, provided the user takes good care of the device.
“This product will add value to the market. This is purely mad in Nigeria and for Nigerians to enjoy,” said Omotosho Saheed, the Director Admin and HR at the Lagos State Real Estate Regulatory Authority (LSRERA). “Tolex has a lot to offer to people in Africa and the world,” Saheed added.
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. For detailed information about Tolex, visit: www.tolex.com.ng.
About ValueTech
ValueTech is a Nigerian consumer electronics company dedicated to delivering innovative and affordable technology to the Nigerian market. The company emphasizes quality, design, and customer satisfaction, aiming to empower Nigerians in the digital age.
