Vestel’s CEO Turan Erdoğan speaks on the opportunities in the Asian market in Tokyo

The Chairman of Executive Board of Vestel Companies Group Turan Erdoğan who had been the only representative from Turkey at the 17th Nikkei Global Management Forum in Tokyo, which was participated by the top level executives of the leading companies in the world, spoke at a session titled “Finding Market Opportunities in Growing Asia”. Erdoğan said Turkey comes to the fore with its geographically advantageous location between Asia and Europe, adding that, “With a four billion dollar turnover, Vestel is the leader in exports in Turkey with three billion dollar. We export our products to 151 countries thanks to our 35 million units of annual device production capacity and 16,000 employees”. Erdoğan noted that Vestel’s market share in television market in Europe is 20 percent.

The Chairman of Executive Board of Vestel Companies Group Turan Erdoğan attended the session titled “Finding Market Opportunities in Growing Asia” moderated by the Editor-in-Chief of Nikkei Asian Review Akio Fujii. Turan Erdoğan noted that Vestel is a supplier of the leading global Japanese brands, adding that, “Vestel has the third largest market share in Europe after Samsung and LG. We are ahead of global markets such as Philips, Sony, Panasonic, Toshiba and Sharp with our market share of 20 percent.” In his speech, Turan Erdoğan also touched to the issue of Internet of Things and said, “We, at Vestel, produce smart devices for houses and offices. All of these devices are able to talk to each other. We offer the opportunity to our customers to manage all of the devices with using Venus, our smart phone produced at Vestel City.”

Target for Rising Market Asia: 34 countries, four billion people

Speaking on the market opportunities in the rising Asia, Turan Erdoğan also said, “When we talk about the Asian market, it is about 4.2 billion people in 42 countries. This represents more than half of the world’s population. We, at Vestel, have the objective of reaching four billion people in 34 countries. When Vestel look into the market opportunities, it determines the target countries according to a number of conditions. We target countries with minimum five percent of economic growth and minimum 35 million population with an annual national income of at least 5,600 dollars per capita. The anticipated market size of Asia is 570 million smart phones, 95 million televisions, 77 million cooking appliances, 72 million refrigerators, 41 million washing machines, and four million dishwashers.”

Vestel is also active in defense industry

Erdoğan also shared the details of the unmanned air vehicles produced by Vestel Defense with the participants and explained the technologies developed for other defense vehicles. Erdoğan listed mobile devices, wearable technologies, electrical automobiles, smart houses and cloud services as the strategic vision areas.

We will sell products to Japan

Turan Erdoğan said the company has attracted great interest in Japan, adding that, “We have explained how a Turkish company became successful in the world. We told them that LED and 4K televisions as well as white goods that we produce are sold in the developed countries. We saw that some of the participants were surprised. We have increased the interest in Turkey and Vestel in a forum, which attracted more than 500 high-level participants from all over the world. We have attracted great interest especially from Japan. This shows that we can sell our products to Japan as well.” Erdoğan said Japanese businessmen wanted to take them to dinner even before the European participants in the international meetings they attend, adding that, “Our culture and traditions are very similar. We have to use this positive impact. We have collaborated with the largest technology brands of Japan in the European markets up to now. It is significant that these important companies show confidence in us. We will continue to increase our relations and cooperation in the coming period as well.”

Contact:

Medyaevi İletişim / Selçuk Yaşar / / 0212 351 91 81

Ayşe Sorucu / / 0212 351 91 81