Turkish manufacturer Vestel, which owns Vestel White Goods and Vestel Elektronik has seen sales falling 8.3 percent in 2009, the group’s chairman board Omer Yungul said on Thursday.
He also said he saw Vestel exports falling to 2.5 billion lira ($1.68 billion), down 10.7 percent on the year.
Yungul said he saw 2009 sales at 3.3 billion lira. Vestel, owned by Turkish Zorlu Holding, made 3.6 billion lira in sales revenues last year and posted exports of 2.8 billion lira, Vestel said.
Turkish white goods manufacturers have been hard hit by the global economic slowdown, prompting the government to cut taxes on the sector temporarily in 2009, while export markets are still flagging.
Ahmet Zorlu, head of the Zorlu Holding board of directors, said Vestel’s LCD television production will double this year to 7 million units from 3.5 million units in 2008.
