Sanyo Home Appliances Viet Nam Corp. has set a target of 40-percent market share in Viet Nam, according to the chairman of Sanyo Viet Nam's management board.
He said that the country has been emerging as one of the leading consumers of Sanyo washing machines and refrigerators, as well as its air-conditioners, digital cameras, liquid crystal TVs, and other home appliances.
Sanyo Viet Nam expects to expand its market by more than 60 percent and earn a turnover of U.S. $67 million in the 2004 fiscal year, which will end in April.
The company has increased its investment capital by $10 million to $54 million, with the aim of raising its current capacity of 200,000 washing machines and 250,000 refrigerators per year to 300,000 and 400,000, respectively.
Sanyo Viet Nam has also invested $13 million in building a factory to produce digital cameras. The factory is scheduled to start operating in May 2005, with a capacity of 1 million cameras per year in the first 2 years of operation and 5 million cameras per year as of 2007. (VNA)
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