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| [Corporate News] Daewoo Electronics Recorded Positive Operating Profits for Four Consecutive Year |
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Jan.19,2012 |
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Jan. 18th. 2012 - Daewoo Electroncis
Daewoo Electronics today reported record revenues and operating profits in the year of 2011, reflecting the results of the company’s successful strategy and competitiveness during the current recession. It succeeded in achieving 1.69 trillion won in sales and five billion won in operating profits last year on a consolidated basis. The current CEO, since his day one back in 2009, had restructured its business portfolio by shedding less profitable units. As a result, the sales increased for two consecutive years and the profits remained in the black for four years in a row.
The uptrend can be attributed to its successful penetration of emerging markets. Recently, it has topped the microwave oven market of Venezuela and washing machine market of Algeria while dominating multiple home appliances segments in Mexico. It re-started its business in India and Thailand, too.
In the meantime, its niche market strategy is working out fine domestically. Its recent releases a combination of premium and miniature products called `pre-mini’ such as 7kg-capacity drum washing machine and 15ℓ microwave for single persons. Sales of those strategical products are far stronger than originally expected.
This year, Daewoo is planning to exceed two trillion and 70 billion won in sales and business profits, respectively.
About Daewoo Electronics
Daewoo Electronics Corp. is a global leader in home appliances market. Employing approximately 4,000 people in about 35 offices across 50 countries, the company consists of three independently operated business units: refrigerator, washing machine and kitchen appliances. For more information, please visit www.dwe.co.kr
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