Daewoo Electronics will make 24 million euro turnover this year, down 20% from the 30 million euros of 2003. Things will change next year, when the decline will be compensated for almost completely, Daewoo Electronics' marketing manager Anca Rosu said. The Romanian electronics and home appliances market had a modest performance this year compared with 2003. Whereas sales of electronics were about the same as last year, the so-called white goods witnessed a significant decline. "After the first half of the year sales of home appliances fell sharply. Even though they have recovered in the second half, they cannot make up for the decline in the first half," Anca Rosu feels. The decline in the purchases in instalments, once the new lending norms issued by the National Bank of Romania were introduced in February, caused a steep decline of the share of such acquisitions, the main drive behind the growth of the market last year. Under the circumstances, many buyers of electronics and home appliances went for low-end products. Subsequently, the brands in the middle segment, such as Daewoo's were among the hardest hit of all. "In addition, those products for which we had the best positions on the market, such as refrigerators and air conditioners sold the worst, with the weather playing a decisive part in this," Anca Rosu added. ZF
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