Sanyo Eyeing 50 per cent of Vietnam's Washing Machine Market
Sanyo Ha ASEAN or Sanyo Vietnam, a subsidiary of Japan’s electronics giant Sanyo, has set a target to raise its washing machine market share in Vietnam from the current 41.2 per cent to 50 per cent by the end of 2005.
“We also hope to raise our refrigerator market share in Vietnam from 34.8 per cent to 40 per cent by the year-end,” said Kiyoshi Isobe, chairman of Sanyo Vietnam.
"Vietnam is becoming Sanyo's largest refrigerator and washing machine market," he said, adding that the following products would be air conditioners, digital cameras, liquid crystal displays and other home electronics appliances.
Sanyo Vietnam set up in 1996, secured total revenues of US$67 million in the fiscal year ending March 2005, up 40 per cent against the previous year.
The company has recently raised its investment capital from US$44 million to US$54 million to raise its annual output to 300,000 washing machines and 400,000 refrigerators.
Sanyo Vietnam invested US$13 million in building a digital camera factory in the southern province of Dong Nai late last year. The factory is expected to begin operations in May this year with a designed capacity of one million digital cameras a year, which will be raised to five million units a year by 2007.
"Sanyo Vietnam now plays a key role in Sanyo's operations in Southeast Asia and has become the head quarters for the consumer goods group to conquer this potential market," said Sanyo Consumer Director Eiji Kotobuki.
Since its establishment in Vietnam in 1996, Sanyo Vietnam has sold one million washing machines in Vietnam.
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