Turkey's Vestel attends electronics fair in Russia

Turkey's Vestel was the only Turkish company that joined the HDI Show 2008 in the Russian capital, Moscow. HDI Show is an international exhibition of hi-fi equipment, home theater, multimedia entertaining systems and smart home. The show has been organized since 1996.

Vestel had clinched sales deals worth $20 million on the first day of the fair at the Crocus Expo, and its 32-inch LCD TV got the mostly-sold product award in Russia.

"This is the first time we are participating in an electronics fair in Russia in four years," an executive of the Vestel told AA correspondent.

Turan Erdogan, the deputy chairman of the executive board of Vestel, said Vestel's factory near Moscow is producing around 2 million durable house goods.

Erdogan said Vestel's sales in Russia were up 30 percent, and told the AA that the company wants to increase its market share in Russia from 10 to 15 percent in two years. Vestel also aims to raise its turnover to 230 million USD by the end of this year, Erdogan said.

Turkish durable goods manufacturer is exhibiting digital LCD TVs, interactive hotel TVs, LCD monitors, laptops, satellite receivers.

Vestel Group of Companies consists of 18 companies, including seven domestic and eleven foreign companies that are active in the electronic, white goods and information technology fields. The foreign companies are located in EU countries including Germany, France, Britain, Spain, Italy and the Netherlands.

Vestel, exporting to 103 countries, has a global market share of 5 percent. Vestel entered Russian market in 2003 by opening a TV factory.

Photo: AA