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Samsung: Home appliances market will grow in 2012

Samsung: Home appliances market will grow in 2012
01.05.2011, 23:37 87

Lucian Ghiţescu, manager of the Home Appliance division ofSamsung Electronics, says the home appliances market will be stablein 2011, with growth expected only in 2012, although the worst haspassed.

Ghiţescu does not provide figures on the value of the market,but says it has fallen by around 40% against 2008. "After two yearsof decline, we can say the worst is over."

At the end of last year, Adrian Olteanu, CEO of electronics andhome appliances retailer Flanco, said the electronics and homeappliances market could be valued at around one billion euros.

Samsung Romania, local subsidiary of the Korean giant, hasaround 300 home appliances in its portfolio, both free-standing andbuilt-in. He says while in the case of the former, the market hasreached maturity, there is still growth potential for built-inappliances. Around 60% of Samsung Romania's business is generatedby sales to major electronics and home appliances retailers withnationwide store chains.

Lucian Ghiţescu does not provide a figure for last year'sturnover and says the company targets a 20% growth against 2010,without providing a figure for this, either.

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