15 Nisan 2011 Cuma

Samsung to mend rift with local lenders

'We would like to settle the issues with our partners smoothly by negotiating and agreeing,' says Sung Yong Hong, president of Samsung Turkey.

'We would like to settle the issues with our partners smoothly by negotiating and agreeing,' says Sung Yong Hong, president of Samsung Turkey.
Samsung wants to settle disputes with its Turkish distributors, President of Samsung Turkey Sung Yong Hong told the Hürriyet Daily News & Economic Review at a press meeting in Istanbul on Thursday.

Assigned president of Samsung Turkey nearly six months ago, Hong is preparing to begin a new page in the long-running conflict with Turkish distributors Kont Bilişim who filed a suit demanding nearly $18 million in 2008, alleging that Samsung decided to end the distributorship agreement after only three months of operations.

“Unfortunately Kont officials are not telling the truth, since we still continue to supply Samsung products to our partner,” Hong said.

The matter regarding the agreement has been taken to the Turkish court, Hong said. “Still, we would like to settle the issues with our partners smoothly by negotiating and agreeing.”

Okay Nasır, general manager of Kont, told the Daily News last month the Turkish distributor was only notified in three months time about Samsung’s decision to end the distributorship agreement.
“We were left with no choice but file suit,” he said. “The companies’ loss is great.”

Hong said Samsung aims to be the market leader in electronics and white goods in Turkey, as the country ranks among the favorite destinations of the Korean giant.

The Korean firm grew in the Turkish market in a way that forced it to maintain its own operational channels to realize future growth targets in the region, Hong said, explaining the reason behind leaving its Turkish distributor nearly two years ago. “While enlarging the product portfolio, we would like to settle the disputes with the Turkish partners,” he said.

Turkish Anadolu Group canceled a distributorship agreement with the Korean firm earlier this year and subsequently signed a contract with Chinese giant TV manufacturer Hisense.

As the largest subsidiary of Hisense Group, HEC boasts the advanced TV production line in China and has a yearly output of 10 million color TV’s. Anadolu Group CEO Tuncay Özilhan said the earlier problems with the Korean company had been resolved “peacefully,” as Samsung wanted to take its place in the Turkish TV market independently.

Pleased with Samsung’s performance in the Turkish market, Hong said, “Turkey has a great potential.”
Samsung global executives are currently studying the feasibility of founding a research and development center in Turkey in the future, he said.

3D TV market leader

“Samsung is the leader in the 3D TV market,” said Lemi Paksoy, Samsung Turkey’s director of electronics, at the press meeting. Paksoy said the Korean company had sold nearly 450,000 LCD TV sets in 2007 and the number had increased to 1.5 million this year.

Samsung holds nearly 48 percent of the LCD TV market and 80 percent of the 3D TV market in Turkey, Paksoy said. “The biggest growth is expected in 3D TV products next year.”

Paksoy told the Daily News that Samsung Turkey was currently preparing for a boom in the Turkish white goods market since the company had recorded 200 percent growth in the last three years.

“We are aware of the fact there are Turkish giants to compete with in the white goods sector. We will make a difference with innovative products for our customers,” Paksoy said.

The groups new Echo-Bubble line of washing machines saves up to 70 percent energy and is set be launched in Turkey soon.

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