BANGKOK, NNA - Toshiba Thailand Co., formerly under Japan's Toshiba Corp., is aggressively launching new products in the Southeast Asian country to boost sales of home appliances and expand market shares in many categories.
Toshiba Thailand, now a local affiliate of Chinese consumer appliance giant Midea Group, says it is introducing 32 new models in eight categories in the first half of this year and will add 34 models in the second half.
President Brian Zhao said these efforts will help his company post a sales increase of more than 20 percent this year from a year earlier.
Toshiba and Midea have jointly developed these new products as sales of refrigerators, washing machines, microwaves and other items have been very brisk, Toshiba Thailand says in a statement.
Toshiba brand refrigerators boast the largest market share of about 30 percent in small one-door models in Thailand's refrigerator sector.
Toshiba Thailand will release multi-door and side-by-side models in the country for the first time later this year.
Currently, Toshiba Thailand is owned 54 percent by Thai shareholders, 36.8 percent by the Chinese group and 9.2 percent by Toshiba.
Toshiro Ishiwatari, chairman of Toshiba Lifestyle Products & Services Corp., said the Japanese group will integrate "Japanese quality products, China's speed in manufacturing and developing and Thai experience."
In March 2016, Midea acquired an 80.1 percent stake in Toshiba Lifestyle, of Kawasaki, Kanagawa Prefecture.
Toshiba Lifestyle is a onetime Toshiba Corp. group member engaged in development, production and sales of home electric appliances and other products at home and abroad. (NNA/Kyodo)