Daewoo Aims to Double North American Appliance Sales in 2012
Jun 4, 2012
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Daewoo Electronics has set the goal to double its appliance sales from 2011 to reach $150 million in 2012 in North America.
The company said it is on-track to diversify sales channels by supplying appliances to retailer Wal-Mart, by cooperating with the National Appliances and TV Merchants (NATM), and by penetrating markets in the Caribbean countries.
Daewoo Electronics reported in March 2012 that it signed an agreement with Wal-Mart to supply 250,000 microwave ovens. Daewoo will provide 26-liter microwave ovens to over 1,500 Wal-Mart stores in the United States for a year.
Daewoo is also negotiation with Wal-Mart to expand its product lines sold in the retailer's stores, which could help Daewoo reach its goal of increase home appliance volume to more than a million units annaully.
Daewoo Electronics also held a conference with NATM on launching new products in the Americas. The NATM is made up of 11 distributors and it is the largest association of household electronics distributors in the United States.
Daewoo is also is set to enter into markets in Caribbean nations such as Dominican Republic, Jamaica, Haiti, and Trinidad. Daewoo hosted a dealer show earlier in 2012 to introduce new products to distributors. Daewoo plans to hold dealer shows on a regular basis to extend distribution networks.
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