Grundig aims to be international brand
Posted by meb at June 27th, 2008
Grundig Elektronik, a Turkish television-set maker, aims to increase its market share to 5 percent with the Grundig brand and 15 percent with all of its brands and original design manufacturer sales by 2010 in Europe, said the general manager of Grundig Elektronik yesterday.
Grundig also plans to develop its product range by phasing out production of cathode-ray tube televisions by 2010 to focus on production of liquid-crystal display (LCD) televisions, Oğuzhan Öztürk added. “Our aim is to increase our turnover by 20 percent to reach YTL 1.7 billion in 2008. We will increase our television production volume from the current 3.2 million to 5.5 million by 2013, which comprises only sales of LCDs,” Öztürk told reporters at Grundig’s Beylikdüzü production plant in Istanbul.
LCD sales growth:
Koç Holding, Turkey’s largest business conglomerate, acquired Grundig last year. Then called Beko Elektronik, Koç renamed its consumer electronics unit Grundig after completing its acquisition of the firm in March.Bülent Bulgurlu, chief executive officer of Koç Holding, noted the LCD TV market in Europe is expected to grow by 30 percent over the current year. “However, we expect Grundig’s LCD TV sales in Europe to grow by 60 percent this year,” he said.
Throughout 2007, Grundig’s market share of LCD TVs in Germany, the most important market for the brand, increased from 3.1 percent to 4.1 percent.
This year the new markets for Grundig’s LCD TVs will be Russia, the Middle East and North Africa, added Bulgurlu. “In the period ahead, we are planning to make use of Arçelik’s strong sales and marketing network and distribute Grundig products in five continents and more than 100 countries,” he said.
10,000 new jobs:
Koç Group envisions becoming a global company with rapid and sustainable growth, said Mustafa Koç, chairman of Koç Holding’s board of directors. “Grundig is one of the two well-known brands in the European consumer electronics sector. […] While focusing on strengthening our position in consumer electronics, we also make plans to improve the Grundig brand,” Koç said. “We will continue to develop innovative products and technologies.”
In Turkey, product development will lead to the creation of 10,000 new jobs. Some 2,000 of these will be engineering and technician jobs, while the rest will be other supporting roles. “Electronics is an important sector for Turkey and the growth of the sector has a notably positive impact on employment,” added Öztürk.
source: Turkish Daily News
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