Walton to export TV to South Korea

Walton Hi-Tech Industries PLC, a giant in the consumer electronics market of Bangladesh, will soon start exporting TVs to South Korea in a bid to expand its global presence by catering to low-end consumers in the country.

Nazrul Islam Sarkar, deputy managing director of Walton Hi-Tech Industries, and Han Ki-Jung, chief executive officer of Hans Korea, inked a memorandum of understanding to this end late last month.

Walton is constantly expanding its brand to new markets in Europe, Asia, the Middle East and Africa, according to Mostafa Nahid Hossain, chief business officer of Walton's TV division.

Major Korean electronics manufacturers, such as Samsung and LG, do not make low-end products for their local market, he said.

So, with the aim of becoming a top global brand, Walton has launched TV exports to South Korea.

Under the agreement, Hans Korea, which mainly supplies semiconductor chips and medical apparatuses worldwide, will import basic and smart TVs from Bangladesh for their middle-class consumers.

"Expanding TV exports to South Korea is undoubtedly a huge milestone. This achievement will pay an important role in achieving the company's 'Go Global 2030' initiative," Hossain added.

Han Ki-Jung, CEO of Hans Korea, said they are happy to start working with Bangladesh's number one electronics brand.

"We hope to be able to promote the Walton band in Korea and create a strong market for Walton products in the country," he added.

As per a press release, Walton is Bangladesh's top exporter of refrigerators, TVs, washing machines and other electronic products.

The 'Made in Bangladesh' Walton products are being exported to more than 40 countries worldwide.