Walton aims for $1bn export earnings within 10 years

[Black_cats]

Walton aims for $1bn export earnings within 10 years
Tribune Desk

• Published at 10:22 pm October 30th, 2018

https://www.dhakatribune.com/business/2018/10/30/walton-aims-for-1bn-export-earnings-within-10-years

Company insiders said that these centers will allow them to innovate and create new designs and superior quality products to display in international trade fairs

Local electronics giant Walton has decided to expand its business to international markets and $1 billion from exports by 2028.

According to a press release, the company has already begun recruiting international business experts, and opening offices in various countries, while also setting up global research and development centers and branch offices in Germany, United Kingdom, China, UAE, Taiwan, and Thailand, to achieve the target.

Company insiders said that these centers will allow them to innovate and create new designs and superior quality products to display in international trade fairs.

Business experts opined that international markets are open for Bangladeshi products and the country has possesses the ability to lead the global electronics market.

Many global brands who are selling products in United States and other countries buy them from China. However, recent trade tensions between US and China is leading those brands to seek new business partners from other Asian countries.

Keen on building a long term business relationship with Walton, officials from some of these companies have already visited Walton’s production plant in Gazipur.

President of Walton’s International Business Unit Edward Kim said “it is time for the company to go global”.

“Our initial target is to earn $100 million by 2022, through exporting electronic and electrical goods, and parts,” explained Edward, adding that they are on track of achieving their long-term target of earning $1 billion within 2028.

Deputy Executive Director of Walton Uday Hakim said: “Bangladesh’s export earnings are highly dependent on garment, leather and jute goods. But we have a huge scope of accelerating the earnings by exporting electronic products and parts.”

 

[Śakra]

@Nilgiri

 

[Destranator]

Good for Walton. They should employ @Nilgiri , @gslv mk3 and @Śakra so that they can do something with their lives.

 

[TopCat]

Good for Walton. They should employ @Nilgiri , @gslv mk3 and @Śakra so that they can do something with their lives.

Janitor posts are vacant...

 

[Bilal9]

Janitor posts are vacant...

 

[Chinese-Dragon]

Does Walton have any specific meaning in Bengali?

 

[TopCat]

Does Walton have any specific meaning in Bengali?

no they used to bring fake product from China and Korea with a English sounding name Walton. But they made enough money so that they now built up their own production line and selling and exporting them with the same name.
Walton is a common english last name...

 

[gslv mk3]

Janitor posts are vacant...

Dont worry, those vacancies would be filled when we kick the illegal bongoloids out of India. Afterall that's what they do here...

“Our initial target is to earn $100 million by 2022, through exporting electronic and electrical goods, and parts,” explained Edward, adding that they are on track of achieving their long-term t

Good for Walton

Lol, $100 million by 2022 & $1 billion by 2028?

Now where have seen such projections before...? (Thanks to @Nilgiri for finding these 'gems')

https://defence.pk/pdf/threads/bangladesh-economy-news-updates.10487/page-41#post-1003517

https://defence.pk/pdf/threads/walton-likely-to-enter-eu-mkt-within-few-months.233059/#post-3879733

https://defence.pk/pdf/threads/made-in-bangladesh.371875/page-23#post-8951899

Heck, Indian motorcycle manufacturers cant even compete with Walton

Indian bike makers can't beat our cost structure. Even with your economy of scale.

They were supposed to export hundreds of millions of dollars worth of refrigerators, motorcycles etc by now...

So what is their export earnings for last year? $10 million ? Probably much less than that.

Here is the actual export figures for entire Bangladesh.

2017 Bangladesh motorcycle exports = 240,000 USD

http://www.worldstopexports.com/motorcycles-exports-country/

2017 Bangladesh refrigerator exports = 142,000 USD

http://www.worldstopexports.com/refrigerators-exports-country/

2017 Bangladesh computer devices exports = 568,000 USD

http://www.worldstopexports.com/computer-device-exports-country/

None of these have even crossed $1 million-and it's for the entire country...So you can guess Walton's export earnings for this year.

And you still have gullible Bangladeshis believing these fancy projection like some gospel truth...

 

[Avisheik]

Many global brands who are selling products in United States and other countries buy them from China. However, recent trade tensions between US and China is leading those brands to seek new business partners from other Asian countries.

Keen on building a long term business relationship with Walton, officials from some of these companies have already visited Walton’s production plant in Gazipur.

This is a very important development. If bangladeshi businesses plays their cards right and manage to tie up with foreign companies, it will be a huge boost to our manufacturing sector. Walton is a decent company, however, i feel that they do not conduct much market research or R&D to be a global player yet.

However, we still are behind in infrastructure, ease of doing business and even education. If we dont pull up quickly, we will lose these opportunities to countries like thailand, indonesia and vietnam, who already have a head start.

 

[fallstuff]

Tall order.

 

[mb444]

Dont worry, those vacancies would be filled when we kick the illegal bongoloids out of India. Afterall that's what they do here...



Lol, $100 million by 2022 & $1 billion by 2028?

Now where have seen such projections before...? (Thanks to @Nilgiri for finding these 'gems')

https://defence.pk/pdf/threads/bangladesh-economy-news-updates.10487/page-41#post-1003517

https://defence.pk/pdf/threads/walton-likely-to-enter-eu-mkt-within-few-months.233059/#post-3879733

https://defence.pk/pdf/threads/made-in-bangladesh.371875/page-23#post-8951899

Heck, Indian motorcycle manufacturers cant even compete with Walton



They were supposed to export hundreds of millions of dollars worth of refrigerators, motorcycles etc by now...

So what is their export earnings for last year? $10 million ? Probably much less than that.

Here is the actual export figures for entire Bangladesh.

2017 Bangladesh motorcycle exports = 240,000 USD

http://www.worldstopexports.com/motorcycles-exports-country/

2017 Bangladesh refrigerator exports = 142,000 USD

http://www.worldstopexports.com/refrigerators-exports-country/

2017 Bangladesh computer devices exports = 568,000 USD

http://www.worldstopexports.com/computer-device-exports-country/

None of these have even crossed $1 million-and it's for the entire country...So you can guess Walton's export earnings for this year.

And you still have gullible Bangladeshis believing these fancy projection like some gospel truth...

BD public and private sectors are materially different propositions. The numbers you quoted are a start there is no reason why these can not increase. Everything starts small and then gears up. Walton also has a economy with 165m on its doorstep.... it's only a matter of time.

BD rmg was no different in the 80s.... look where it is now.

 

[bluesky]

None of these have even crossed $1 million-and it's for the entire country...So you can guess Walton's export earnings for this year.

And you still have gullible Bangladeshis believing these fancy projection like some gospel truth...

Yes, these have not crossed yet the $1 million export target each. But, the point is our goods are now in the international market. They will grow higher with time, just like a rice plant grows and produces hundreds of cereals. Wait for the right time with your fingers crossed.

If the political GoB says something it is mostly out of thin air. But, not when a private company says something, it is not a fancy projection. It certainly has a good amount of truth when its spokesman forecasts something for the future. A company declares its projection because it has a proper planning to attain the goals.

Walton thinks big, its designs and mechanism are up to the international level and the entry of its high-end products will certainly be welcome by at least those countries where millions of our expatriates are living and working. A tiny $1 billion target is not that far-fetched. Why it is not $10 billion?

 

[gslv mk3]

Yes, these have not crossed yet the $1 million export target each. But, the point is our goods are now in the international market.

Your companies have negligible presence given the size of the market.

But, not when a private company says something, it is not a fancy projection. It certainly has a good amount of truth when its spokesman forecasts something for the future. A company declares its projection because it has a proper planning to attain the goals.

Walton thinks big, its designs and mechanism are up to the international level and the entry of its high-end products will certainly be welcome by at least those countries where millions of our expatriates are living and working. A tiny $1 billion target is not that far-fetched. Why it is not $10 billion?

The numbers you quoted are a start there is no reason why these can not increase. Everything starts small and then gears up. Walton also has a economy with 165m on its doorstep.... it's only a matter of time.

This is exactly why I have mentioned their old projections, according to which they were to earn millions in exports... None of it ever materialized.

Walton was supposed to export 50% of their refrigerator production.

How much they are exporting now ?

Taking a plan to export almost half of the produced refrigerators, Walton is strengthening its local and international marketing wings.

http://www.risingbd.com/english/Walton_builds_plants_to_make_refrigerator_AC_compressors/3070

Walton televisions, motorcycles and air-conditioners are now exported to different countries of the world. It is possible to export these products to the developed countries as Bangladesh manufactures high-quality products.

Taking a plan to export almost half of the produced refrigerators, Walton is strengthening its local and international marketing wings.

But there is no limit to Bangladeshi delusions...

Their level of backward integration is unmatched by most South Asian electronics companies. Their r&d investment budget alone is bigger than a lot of the total investments of some South Asian "brands".

 

[Arulmozhi Varman]

Have used to laugh at these Walton projection threads when I wasnt a member here. Not sure how refrigerators get labelled as Electronic product. Anyone can assemble a fridge if someone can buy a compressor and certain chemicals. Though its a good hope, to compete in international market it needs to design, have better R&D and most importantly good cash flow balances.

 

[Black_cats]

Have used to laugh at these Walton projection threads when I wasnt a member here. Not sure how refrigerators get labelled as Electronic product. Anyone can assemble a fridge if someone can buy a compressor and certain chemicals. Though its a good hope, to compete in international market it needs to design, have better R&D and most importantly good cash flow balances.

This is from the article:

"According to a press release, the company has already begun recruiting international business experts, and opening offices in various countries, while also setting up global research and development centers and branch offices in Germany, United Kingdom, China, UAE, Taiwan, and Thailand, to achieve the target."