Walton moves to expand TV export to 20 European countries by 2021
NBS Report- Bangladesh’s electronics giant Walton has set a target of widening its TV export business to total of 20 European countries by the year 2021 as the local brand’s manufactured and exported ‘Made in Bangladesh’ tagged television in Europe has been well accepted for its high quality as well as reliability.
Despite the global trade and economic slowdown following the coronavirus pandemic situation, Walton made a great success in expanding its LED TV exports to 10 European countries, including Germany, Greece, Ireland, Croatia, Spain, Poland, Italy and Romania. Walton’s successful market expansion in Europe was resulted in increasing its TV export 10 times more than the previous year.
In addition, Walton's TV exports to Europe in the year 2020 was exceeded in the first five months of this year (January to May).
German Ambassador to Bangladesh Peter Fahrenholtz praised Walton's remarkable achievements in expanding TV export to Europe.
During a recent visit to Walton Hi-Tech Park at Chandra in Gazipur, the German envoy was briefed on the successful market expansion of Walton products in Europe.
Witnessing the use of European technologies’ advanced machineries, the ambassador also lauded Walton’s state-of-the-art TV manufacturing factory.
On his reaction on the visit, Peter Fahrenholtz said, “Walton has developed so well. I am very much impressed. Walton has a vision to be a global player through producing quality products. Today, I witnessed that Walton invested good enough on advanced technologies’ machineries mostly from Germany to produce quality products. I hope that Walton would be a global market player.’
The German envoy also termed Walton as a showcase of the the Bangladesh tremendous progress in the recent years.
Walton Hi-Tech Managing Director Engineer Golam Murshed said, Walton wants to bring the Bangladesh’s flag of Bangladesh to a unique height in the world by securing a strong brand position in the world’s consumer electronics markets. That’s why, Walton has been moving forward with the “Vision- Go Global 2030”. The vision implies Walton will be emerged as the best and leading global electronics brand in the world by 2030.
Walton TV Chief Executive Officer Mostafa Nahid Hossain said, “We set a goal of becoming one of the top five global television brands in the world. As a part of this goal, we target to widen Walton TV export markets to all the countries of the 5 continents by 2023. In this case, the rapid expansion of Walton TV's export market in Europe will play an important role.
He said Walton exported 10 times more TVs to Europe in 2020 than the previous year. In the first five month of this year (January to May), Walton surpassed the export of 2020.
Walton TV’s Head of Business in Germany Tawseef Al Mahmood said, they set a plan to expand its TV export markets to 20 European countries by the end of 2021. The ‘Made in Bangladesh’ TV has be well accepted for ins reliability and quality in Europe and Walton want to up hold this standard going forward. This year, Walton are going to launch 3 new models with new Smart features with regional software suitable for Europe markets.
According to sources, Walton is making TVs of European standard at its own factory at Chandra in Gazipur. Walton has already been recognized as a state-of-the-art Dolby and Google-listed ‘licensed TV manufacturer’. Walton is the only company in Bangladesh to produce Dolby's official sound quality TV. The price of these TVs is as affordable as it is the best. And so Walton TV is now at the top considering the market share in the local market.
It is learned that besides meeting the local demand, Walton TV has been exported to different countries of the world since 2010. Walton is currently exporting TVs labeled 'Made in Bangladesh' through more than 100 business partners in more than 35 countries. TVs are also being exported to different countries under their own brand names through distributors. As a top TV exporter, Walton has been instrumental in increasing the country's export earnings and foreign exchange reserves, creating jobs and building skilled workers in the technology sector. At the same time, it is making a special contribution to the national economy by increasing revenue.