Daewoo eyes 33 million euros

Sales of Korean producer Daewoo on the Romanian market will rise to over 33 million euros this year, up 10-15% from the almost 30 million euros logged last year. The growth will be fuelled by the launch of several new products.

After having posted higher-than-expected sales in Romania last year, the Korean electronic products and electrical home appliances manufacturer Daewoo Electronics decided to introduce its entire range of products to the domestic market. Of these products, some were a novelty even for the European markets.

“Romanians are increasingly looking for high-tech products. That is why we have decided, also helped by the fact that some of our products have become available only recently, to bring them on the Romanian market first,” says Jong Ho Won, Daewoo Electronics Europe’s director for Eastern Europe.

“The sales boom we posted in 2003 made it possible for us to exceed, by 50%, the turnover we had originally projected, given the rising numbers of consumers seeking financing and the lower degree of penetration in the case of some electrical home appliances (washing machines, cookers, microwave ovens),” says Anca Rosu, marketing manager of the local branch of Daewoo Electronics.

According to Rosu, the only 10-15% growth projected for this year will be triggered by the fact that the first quarter brought lower sales than expected by the players on the Romanian electronics and electrical home appliances market.

Despite this evolution, Romania has been the most dynamic market in Eastern Europe over the last several years.

ionut.bonoiu@zf.ro