Walton TV expands its brand business to Croatia
Economic Correspondent || risingbd.com
Walton’s high officials pose for a photagraph with the document just after signing a business agreement with a Croatian renowned company for exporting own brand television to Croatia.
The Bangladeshi multinational electronics brand Walton has further expanded its brand business in Europe by commencing the export of its own brand television to Croatia, a nation at the crossroads of central and southeast Europe on the Adriatic Sea.
In this context, Walton inked a partnership with a Croatian renowned electronics brand named Smartphone I Tablet Servis D.O.O.
Recently, Walton International Business Unit (IBU) President Edward Kim and Smartphone I Tablet’s Chief Executive Officer (CEO) Mario Kralj signed the agreement virtually on behalf of their respective sides at a signing ceremony programme held at Walton Corporate Office in the capital.
Among others, Walton’s Senior Executive Director SM Zahid Hasan, Walton TV’s Chief Business Officer (CBO) Engineer Mostafa Nahid Hossain, IBU’s vice-president Engineer Tauseef Al Mahmud, Operative Director Razaul Islam and Smartphone I Tablet Company’s Product Manager Marin Maltaric. Walton's Croatia Country Concern Aminul Islam moderated the program.
Mentionable, Europe is the largest exports market for Walton televisions as the company have TV exports to this market worth over three million US dollars. Walton has already expanded its TV exports market to 12 European countries. Walton has started television exports to Croatia under its own brand name along with the TV exports to other European nations as an OEM (Original Equipment Manufacturer). The Croatian company has joined Walton as a business partner in this process.
Aminul Islam said that Croatia is a potential market geographically for Walton with a huge consumer electronics market in that country worth of US$221m projected in 2021 with the projected market volume of US$292m by 2025. Under its NOA brand, the Smartphone I Tablet company with their 20 years of experience in the competitive market is set to work as the distributor of Walton. The company has 33 percent market shares in TV and mobile segment in Croatia market. According to the partnership agreement, they will market various products including, Walton brand TVs, refrigerators, air conditioners, washing machines, mobile phones and microwave ovens in Croatia.
Edward Kim firmly believed that Walton will soon lead the electronics market in different regions of Europe, including Croatia as there is a huge opportunity to expand Walton's export market in central Europe and the Adriatic Sea regions.
Mario Kralj said Europe has always been a competitive market with many challenges. We are working to expand market more and more in other European regions. Walton is producing TVs following European standards, maintaining high quality in its own factory. Walton TV's quality and our long-standing business experience will greatly work in these competitive and developed markets.
Mostafa Nahid Hossain said that Walton will provide all kinds of supports to this company to expand business in Croatia. Walton's target is to boost TV market share in Europe as now Walton has the largest market share in Bangladesh. Walton is exporting TVs through over 100 business partners in different countries. Walton has received an order to export TVs worth 2.44 million dollars a day from several European countries on the occasion of Christmas this year, creating a huge milestone in the country's export sector.