Samsung: Home appliances market will grow in 2012

Lucian Ghițescu, manager of the Home Appliance division of Samsung Electronics, says the home appliances market will be stable in 2011, with growth expected only in 2012, although the worst has passed.

Ghițescu does not provide figures on the value of the market, but says it has fallen by around 40% against 2008. “After two years of decline, we can say the worst is over.”

At the end of last year, Adrian Olteanu, CEO of electronics and home appliances retailer Flanco, said the electronics and home appliances market could be valued at around one billion euros.

Samsung Romania, local subsidiary of the Korean giant, has around 300 home appliances in its portfolio, both free-standing and built-in. He says while in the case of the former, the market has reached maturity, there is still growth potential for built-in appliances. Around 60% of Samsung Romania’s business is generated by sales to major electronics and home appliances retailers with nationwide store chains.

Lucian Ghițescu does not provide a figure for last year’s turnover and says the company targets a 20% growth against 2010, without providing a figure for this, either.