Walton starts TV export to Poland

[Homo Sapiens]

Walton starts TV export to Poland

Bangladeshi electronics manufacturer Walton has exported first consignment of television, with ‘Made in Bangladesh’ label, to Poland. An agreement has recently been signed between Walton...

www.newagebd.net

Walton starts TV export to Poland
New Age Desk | Published: 02:03, Aug 28,2020


Bangladeshi electronics manufacturer Walton has exported first consignment of television, with ‘Made in Bangladesh’ label, to Poland.
An agreement has recently been signed between Walton and Opticum of Poland through a video conference in this regard.

Walton’s International Business Unit president Edward Kim, Walton television division CEO Mostafa Nahid Hossain, Walton’s EU business unit head Tauseef Al Mahmud were present while Opticum’s CEO Richard Grab joined through online.

Tauseef Al Mahmud said that Walton televisions will be available in the Poland market by the end of September. Opticum also expressed hopes to become a partner for the online sales of Walton products in Poland.

Mostafa Nahid Hossain said that Walton plans to export 1 lakh units of televisions to European market by next year.

Edward Kim said, ’We are going to use Poland as a bridgehead to enter into all of the EU markets. Walton will become one of the top five brands in the world by 2030.’

Earlier, Walton signed business agreement with Google to produce smart TVs for western countries. Walton received license from Dolby, a US company, as the only manufacturer in Bangladesh. As a result, Walton television is gaining special acceptance in the global market.
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[Protest_again]

Edward Kim said, ’We are going to use Poland as a bridgehead to enter into all of the EU markets. Walton will become one of the top five brands in the world by 2030.’

Lol.

 

[bête noire]

Edward Kim said, ’We are going to use Poland as a bridgehead to enter into all of the EU markets. Walton will become one of the top five brands in the world by 2030.’

Edward Kim, the president of Walton Group seems to be a Korean. He worked in LG for close to 18 years, 4 of them in LG Singapore and 3 in LG Bangladesh. Then moved to Walton Group to become the president. Guessing he is used to market Walton abroad as he has history in that department.

https://bd.linkedin.com/public-prof...issionId=a0358a32-c671-2f16-ae93-aabfc3581a7d

 

[313ghazi]

Good for them. i wish them all the best.

 

[bluesky]

Mostafa Nahid Hossain said that Walton plans to export 1 lakh units of televisions to European market by next year.

1 lakh units for export to Europe is a good target. Walton products will re-brand Bangladesh as a country of manufacturing hub for household consumer goods. Walton's ceaseless efforts will cause foreign brands to invest in BD. I expect many more Made-in-Bangladesh products in the international market.

 

[Bilal9]

Edward Kim, the president of Walton Group seems to be a Korean. He worked in LG for close to 18 years, 4 of them in LG Singapore and 3 in LG Bangladesh. Then moved to Walton Group to become the president. Guessing he is used to market Walton abroad as he has history in that department.

https://bd.linkedin.com/public-prof...issionId=a0358a32-c671-2f16-ae93-aabfc3581a7d

Edward was the one who pulled off Walton's deal with Samsung to sell OEM products (TV's, Refrigerators, Microwaves and Aircons) under that label. You'll be surprised which country...

 

[Bilal9]

I think Walton is in an enviable position to offer all economy brands in EU and US their price advantages that they so badly need right now.

As Walton builds their quality infra and streamlines their sub-component suppliers for all electronics products like TV's and cellphones, selling under established economy brands in US/EU (even for in-house electronics labels owned by WalMart and Target) will be a great idea. Especially when Walton has such a strong labor-cost differential advantage over most Asian manufacturers like they do now.

I am not that familiar with UK and EU hypermarkets, but guessing they all have in-house brands for electronics.

Vizio - for example, is a great economy brand located in Los Angeles, which sources TV's from China and sells in this market as price-leader items. Brands like them could benefit heavily sourcing from Walton.

Eventually - when OEM sourcing strengthens the foundation of the company, Walton can venture out on their own with their own marketing team in the US and EU, and start selling under their own brand and make some more money that way.

This is the same path Sony, Hitachi, Sharp and Panasonic took as Zaibatsu (vertically integrated business conglomerates) in Japan, to try OEM contracts first in established markets with local brands there (like Zenith, Amana and other US brands in the 60's and 70's). Same approach taken by Korean Chaebols like Samsung, LG and Daewoo in the 80's and 90's.

 

[bluesky]

People should know the difference between Zaibatsu and Keiritsu types of businesses.
Zaibatsu is vertically integrated type that has been abolished after WWll. Keiritsu started after the discarding of Zaibatsu. Keiritsu is laterally/horizontally integrated type business conglomerates. Note what wiki says about these terms:

"Zaibatsu (財閥, "financial clique") is a Japanese term referring to industrial and financial vertically integrated business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy from the Meiji period (1868 to 1912) until the end of World War II".

"The fundamental principle of a keiretsu is long-term agreements between group companies. Furthermore, the mutual business relationships are clearer because counter partners know each other. It is also easier to plan long-term investments".

 

[valkyr_96]

People should know the difference between Zaibatsu and Keiritsu types of businesses.
...................

Why was this relevant to the thread?

 

[bluesky]

Why was this relevant to the thread?

Ask your question to someone else who knows nothing about the current Japanese business practice but misguides people on it. Please ask him instead of asking me.

Also, a Japanese or Korean system may not be applicable in Bangladesh. Peoples' minds are different in those countries than it is in our country. A (business) culture takes route in a society after many decades of practice and mutual understanding.

 

[Bilal9]

Why was this relevant to the thread?

Just 'ignore' this person's incoherent ramblings and hair-splitting 'anal'-ysis, angling for attention so desperately.

I have....

 

[valkyr_96]

Ask your question to someone else who knows nothing about the current Japanese business practice but misguides people on it. Please ask him instead of asking me.

Also, a Japanese or Korean system may not be applicable in Bangladesh. Peoples' minds are different in those countries than it is in our country. A (business) culture takes route in a society after many decades of practice and mutual understanding.

Just 'ignore' this person's incoherent ramblings and hair-splitting 'anal'-ysis, angling for attention so desperately.

I have....

Thank you, I had glossed over his text not realising that he had mentioned Zaibatsu. Perhaps if you had tagged his post, I may have picked up on it. Conglomerate structure such as keiretsu or hausbank (germany) are examples of bank-based financial systems (loan) as opposed to market-based financial systems (capital markets) such as in the USA and the UK. This has got nothing to do with any strategy a company might take to go global nor with corporate culture. It strictly pertains to how capital/funding is made available and its associated risk and returns are considered.

Because much of the economy, both physical and intellectual capital, was destroyed in the war. The task of rebuilding was given to bankers -such that new companies were set around a parent bank which had complete control and oversight. The idea was that if a subsidiary had surplus funds it could by way of equity or debt inject capital in another company, in the end, resulting in overlapping shareholding amongst multiple subsidiaries forming a tight group of companies. The benefit was funding was available cheaply and supposedly good oversight. The negative being that parent controlling multiple entities preferred a "what's good for the goose is good for the gander" approach to management i.e. good for dealing with systemic risk but not good for dealing with un-systemic risk.

Now think about this: what kind of financial system exists today in the Subcontinent (Indian, Pakistan, Bangladesh) and how has it shaped up since the partition? It would be also be interesting to know that how the Bangladesh's financial system developed since its independence. Notice that there is no mention of China in either category -it has it own unique system.

Here is something to read, again this has got no bearing with corporate strategy except that it is was the pre-war financial system existing in Japan.

What became of the zaibatsu

The trials and triumphs of being a family business in Japan

asia.nikkei.com

Please there is no need to throw shade at each other, such educational topics are already rare on PDF. I have been meaning to write an essay on the "Chinese model" which came up ever since Imran Khan was elected and the America/China trade tussle, but after reading many low quality posts on PDF I feel that there is no need to make any effort.

 

[Bilal9]

Thank you, I had glossed over his text not realising that he had mentioned Zaibatsu. Perhaps if you had tagged his post, I may have picked up on it. Conglomerate structure such as keiretsu or hausbank (germany) are examples of bank-based financial systems (loan) as opposed to market-based financial systems (capital markets) such as in the USA and the UK. This has got nothing to do with any strategy a company might take to go global nor with corporate culture. It strictly pertains to how capital/funding is made available and its associated risk and returns are considered.

Because much of the economy, both physical and intellectual capital, was destroyed in the war. The task of rebuilding was given to bankers -such that new companies were set around a parent bank which had complete control and oversight. The idea was that if a subsidiary had surplus funds it could by way of equity or debt inject capital in another company, in the end, resulting in overlapping shareholding amongst multiple subsidiaries forming a tight group of companies. The benefit was funding was available cheaply and supposedly good oversight. The negative being that parent controlling multiple entities preferred a "what's good for the goose is good for the gander" approach to management i.e. good for dealing with systemic risk but not good for dealing with un-systemic risk.

Now think about this: what kind of financial system exists today in the Subcontinent (Indian, Pakistan, Bangladesh) and how has it shaped up since the partition? It would be also be interesting to know that how the Bangladesh's financial system developed since its independence. Notice that there is no mention of China in either category -it has it own unique system.

Here is something to read, again this has got no bearing with corporate strategy except that it is was the pre-war financial system existing in Japan.

What became of the zaibatsu

The trials and triumphs of being a family business in Japan

asia.nikkei.com

Please there is no need to throw shade at each other, such educational topics are already rare on PDF. I have been meaning to write an essay on the "Chinese model" which came up ever since Imran Khan was elected and the America/China trade tussle, but after reading many low quality posts on PDF I feel that there is no need to make any effort.

Well Thanks for a very detailed post explaining these factors.

I am not a finance or banking whiz. Far from it.

Maybe @Homo Sapiens bhai or some other Bangladeshi brother can provide some insight about Bangladesh banking sector that relates to corporates. I know a lot of conglomerates have their own financing arms and even banks.

 

[Michael Corleone]

I think Walton is in an enviable position to offer all economy brands in EU and US their price advantages that they so badly need right now.

As Walton builds their quality infra and streamlines their sub-component suppliers for all electronics products like TV's and cellphones, selling under established economy brands in US/EU (even for in-house electronics labels owned by WalMart and Target) will be a great idea. Especially when Walton has such a strong labor-cost differential advantage over most Asian manufacturers like they do now.

I am not that familiar with UK and EU hypermarkets, but guessing they all have in-house brands for electronics.

Vizio - for example, is a great economy brand located in Los Angeles, which sources TV's from China and sells in this market as price-leader items. Brands like them could benefit heavily sourcing from Walton.

Eventually - when OEM sourcing strengthens the foundation of the company, Walton can venture out on their own with their own marketing team in the US and EU, and start selling under their own brand and make some more money that way.

This is the same path Sony, Hitachi, Sharp and Panasonic took as Zaibatsu (vertically integrated business conglomerates) in Japan, to try OEM contracts first in established markets with local brands there (like Zenith, Amana and other US brands in the 60's and 70's). Same approach taken by Korean Chaebols like Samsung, LG and Daewoo in the 80's and 90's.

Walton should serious look in premium smartphone market. Even one plus is failing to provide good deals nowadays. If Walton can exploit the pricing advantage they should take full advantage of it

 

[nautilaceae]

Walton is the new Sony, Bangladesh is the next Japan.