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Biz News Korea(Eng)
S. Korea’s Dongbu Daewoo Electronics taps consumer electronics market in Philippines
- Collected
- 2017.10.31
- Distributed
- 2017.11.01
- Source
- Go Direct
![[Photo by Dongbu Daewoo Electronics]](http://file.mk.co.kr/meet/neds/2017/10/image_readtop_2017_717137_15093491253080895.jpg)
[Photo by Dongbu Daewoo Electronics]
The company said on Monday it launched new product lineups of refrigerators, washing machines and microwaves under an exclusive supply agreement with Techtuit.
The Korean manufacturer set up a showroom exhibiting the new products at Alphaland Makati Place in Metro Manila, where some 100 key buyers, journalists and government officials were invited to celebrate the opening on Sunday.
During the event, the company showed off its entire lineup of refrigerators, washing machines and microwaves and new TV sets and air conditioners. Dongbu Daewoo Electronics aims to expand its footprint across nine ASEAN countries, including Singapore, Malaysia, Indonesia, Thailand, and the Philippines by leveraging its Southeast Asian units in Malaysia and Indonesia.
In Southeast Asia, the Philippine consumer electronics market stands out with its rapid growth of more than 50 percent a year since 2010 and is expected to exceed $5 billion in market value by 2018. “We will focus on the practicality of our products to appeal to consumers in the Philippines,” said Kang Jae-hoon, an official at Dongbu Daewoo Electronics in Seoul.
By Song Sung-hoon and Minu Kim
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]