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TONGYANG/Magic, Magic boom in the Middle East 2011-12-20

[Asia Business Daily, Dec. 14 2011] Korean made kitchen appliances capture the Middle East People’s heart and have stood on the top among global brands in the market.


According to TONGYANG/Magic on December 14th, its dishwasher and dispenser are getting huge popularities in the Middle East. Especially, for dishwasher, the market share shows 34% in the Iranian market and 25% in Egyptian market.


Sales volume in Iran and Egypt for this year is 73 thousand units which have increased by 22 thousands from the last year of 51 thousand units. According to the company, specifically in Iran, the sales figures are gone ahead of global brand ‘BOSCH’ and ‘AEG’.


These sales figures in the Middle East are 145 times bigger than its export commencement year of 2004 with the sale of 5 hundred units, and its target sales figures for next year is 93 thousand units.


Water dispenser export volume is also steadily increasing. In the export commencement year of 2009, the water dispenser was sold only 3 thousand units. However, it increased to 25 thousands in 2010 and 45 thousands in this year. The target sales quantity for next year is 80 thousands.


The general manager of Global Biz team at TONGYANG/Magic says “The Middle East localized design and functions reflecting the life style and preference of the Middle East people have played a main roll for sales, and specially, a customized rack for dishwasher and durable compartments in dispenser have highly satisfied customers”


With these reasons, the export portion of the Middle East occupies the half of the total export pie of TONGYANG/Magic. In this year, TONGYANG/Magic has been exporting to 55 countries, and among them, the Middles Eastern countries occupy 49% which is the highest portion, among the others. The second largest areas, the CIS and Europe countries, occupy approximately 10% for each that is 4 times lower than the Middle East.


The amount of export also has increased since the last year. TONGYANG/Magic exported 16.8 million dollars in 2010 and 24.6 million dollars in 2011.


Positive records in the Middle East also contributed TONGYANG/Magic to win the Export Achievement Tower for 50 million dollars of export at the 48th Trade Day anniversary.


The general manager, C.K Kim, says “As a consequence of developing and introducing good products for the global market, TONGAYANG/Magic could win the award for 50 million dollars in export which shows 10 times growth in export since 2006, winning the award for 5 million dollars in export,” and he also added that TONGYANG/Magic will thrive to introduce various products and launch them in the global market successfully.