London, UK (PRWEB) February 12, 2006
Widget UK Ltd, a specialist distributor of mobile technology and accessories, today announced that it’s founder, Mark Needham, has been short listed as one of the five finalists for the ‘Technology Entrepreneur of the Year” award category at the 2006 UK Technology Innovation and Growth Awards, sponsored by PriceWaterHouseCoopers. (Further information on the awards can be found at: http://www.innovationandgrowthforum.com)
Mark founded Widget in 1987 from the front room of his flat. From scratch, he built a valuable company which by 1999 was turning over £7 million per annum with 5 branches and employing in all 30 people.
If there was a criticism, it was the over reliance on a major supplier relationship. When that company suddenly withdrew from the market, Widget suffered a potential body blow and shareholder value virtually disappeared overnight.
Instead of bemoaning the fact that value had been snatched away, Mark led the company through a painful period of regrouping, cutting costs and finding new products and markets.
Widget UK has reinvented itself in the same sector and the results have been spectacular. Mark has proved himself an outstanding Managing Director, building and leading a strong team through a period of great success from a point where survival was in real doubt.
Mark Needham, managing director, Widget UK Ltd, commented: “We are delighted to be short listed. It shows that all the hard work and integrity shown by everyone at Widget has paid off. Within the last eighteen months Widget UK has quadrupled turnover, tripled profit, brought its balance sheet back from negative equity and bought itself a new freehold headquarters”
Needham continued, “Widget UK has increased its market share in a market which has exploded, beating off competition from one of the world’s largest distribution companies to retain its status as the UK’s main distributor for TomTom bv, the market leader in portable GPS. The growth is expected to continue in 2006. Widget UK can expect an exciting future as it continues to grow and diversify into other technology markets.”
Widget UK distributes a tightly focussed range of products, including satellite navigation (GPS), Palm accessories and other mobile accessories to UK channel partners, including Dixons, Comet, Amazon.co.uk, Argos, Staples, Maplin and Dabs.com as well as many smaller retailers. The products are also on sale to the public through http://www.widget.co.uk, a fully secured e-commerce website.
For further information please do not hesitate to contact ross-at-ranieripr.com
UK Technology Innovation and Growth Awards
Now in their eighth successful year, the UK Technology Innovation and Growth awards recognise the companies and individuals that have demonstrated the innovation and drive that is vital to the health and growth of the UK technology industry.
The awards dinner takes place on Tuesday 21st February and is a chance for an influential audience of technology users, investors, SME technology companies to celebrate the companies and individuals who are moving the industry forward.
About Widget UK Ltd
Widget UK is a leading supplier and distributor of mobile computing devices and accessories. Its portfolio includes satellite navigation, portable scanning devices and PDA accessories. Widget UK and its well-informed staff represent innovative manufacturers who want to bring their products to the UK and Western Europe.
Specific products that Widget distributes include Etymotic’s ER-6i earphones, Corex CardScan, Think Outside Stowaway keyboards, Covertec cases and TomTom Navigator and Go. http://www.widget.co.uk
Widget UK Ltd
Tel: 0870 755 3323
Tel: 01296 468560
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