"Fitch: Turkish TV manufacturers become market leader in Europe
ANKARA - Turkish Daily News
International credit rating agency Fitch yesterday said that Turkish TV manufacturers have rapidly expanded their sales in Europe at the expense of their continental counterparts in the last five years to become the new market leaders. Fitch expects this strong growth to continue in the medium-term, as Turkish producers ramp up their capacity.
'More than 50% of the TVs sold in Europe in this summer was manufactured and assembled by the Turkish original equipment manufacturers (OEM), namely Vestel, Beko, Profilo, eroding the market shares of established European TV makers such as Grundig, Formenti, Sei and Finlux,' commented Kaan Kiziroglu, Associate Director at Fitch's European Industrial team. "
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