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| [Corporate News] Daewoo Electronics aims to double sales in North American home appliance market |
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Mar.19,2012 |
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Daewoo Electronics has set up a business goal to double its sales from the last year to $150 million this year in markets in the North America. The company is on track to diversify distribution channels by supplying its products to US-based retailer Wal-Mart, cooperating with the National Appliances and TV Merchants (NATM) and penetrating into markets in Caribbean countries.
Daewoo Electronics reported Monday that the company signed a deal with Wal-Mart to supply 250,000 units of microwave ovens. Under the contract, Daewoo will be providing 26-liter microwave ovens to over 1,500 Wal-Mart stores in the US for a year.
Daewoo will also have a re-negotiation with Wal-Mart by April to expand product line-ups that are supplied to the US retail giant in an attempt to further increase the volume of home appliances supply to over one million units per annum.
Daewoo Electronics also held a conference with the NATM on launching new products in the American region. The NATM consists of 11 local distributors and it is the largest association of household electronics distributors in the US. US-based electronics makers BrandsMart, ABC Warehouse, Electronics Express also participated in the conference. “Daewoo will tap NATM’s networks for sales and marketing activities,” a Daewoo Electronics official said.
Meanwhile, Daewoo Electronics is set to enter into markets in Caribbean nations such as Dominica, Jamaica, Haiti, and Trinidad. Daewoo hosted a dealer show last month in which the company introduced its new products to local distributors. Daewoo plans to hold dealer shows on a regular basis to extend distribution networks.
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