Japanese consumer electronics manufacturer Panasonic opened its Turkey offices Wednesday and aims to gain a 10-percent market share in the country over the coming years. The firm's executives believe Panasonic will be able to get a prominent position in the Turkish market mainly through its 3-D televisions.
The expansion into Turkey is part of Panasonic's strategy to focus on emerging markets, said Hitoshi Otsuki, executive officer of the Panasonic Corporation in Japan. "We are aiming to expand our business worldwide so that Panasonic can be deeply rooted in each market. We are developing our business in emerging markets that have high potential such as Mexico, Indonesia, Nigeria, and Turkey. We have high expectations for the Turkish market. With a population of 73 million people and a young demography ,we see great opportunities in Turkey," Otsuki said.
Panasonic Elektronik Satış, as the new sales company in Turkey is known, will initially focus on the sales and marketing of Panasonic's new products in Turkey. These include Lumix digital cameras, plasma and LCD televisions, blue ray players, video cameras, home theater systems, DECT phones, security systems, PCs, as well as broadcast systems.
Shigeo Suzuki, managing director of the Turkey operation, said Panasonic envisions a two-digit market share by 2012 in Turkey. "Our vision is to become the number one brand in Turkey. We are determined to establish strong relationships with local retailers here in order to bring our new innovations to the market," he said.
Suzuki told the Hürriyet Daily News & Economic Review that he is not concerned about competing against existing domestic electronics brands like Arçelik, Vestel, and Beko in Turkey. "We are aware of the unique local market in Turkey. We are not trying to offer the market the same products. We will bring in products that will contribute to the existing market," Suzuki said.
Turkey is currently the most strategic market for Panasonic in Europe, said Laurent Abadies, CEO and chairman of Panasonic Europe. "Turkey is important because it is a growing market. In terms of its population, Turkey is the second-biggest market in Europe after Germany and has a young population. Therefore, we are putting out products that fit younger generations," Abadies said, underlining the increasing popularity of 3-D broadcasting. "In November this year, we will launch the world's first 3-D camera," he said.
Panasonic's total turnover globally stood at U.S. $78.4 billion in 2008. The company invested some $5.2 billion in research and development. In November 2009, the firm had a market share of 10.2 percent in Europe, with a market share of 38.9 percent in plasma televisions.
(Source: Hurriyet Daily News)
to Daily News