Not known to a lot of people, for the longest time, there was no Toshiba Philippines until this year. We see their products — TVs, PCs, laptops, refrigerators, but Toshiba doesn’t really have a strong presence in the country aside from its distributors and channel partners. Toshiba addressed that by having a local headquarters in Makati as well as announcing new business strategy for the local market.
Knowing that the Philippines is one emerging market in the ASEAN, Toshiba learned that extending reach and finding growth in the country is pivotal to further reinforce their strong presence in the region. The laptop market will enjoy a compound annual growth rate (CAGR) of 26%, and TVs the figures are even more impressive: a CAGR of 49%. This trend also holds true in tablets, which will see a CAGR of 43% from FY2011 to FY2013.
The Toshiba Philippines headquarters will provide nationwide market coverage with its unified sales and marketing operation. It has a Philippine-centric business structure that promotes the development and delivery of products customized to meet the needs of Filipinos.
Tomoyasu Yamamoto, President of Toshiba (Philippines) Inc. said, “For the past years, we have been reinforcing our marketing activities in ASEAN market to deliver products that address local needs and enhance brand awareness. We are very excited to have an opportunity to expand our business in the Philippines with the launch of a very strong line-up of TVs and PCs. We continue to make efforts to understand the market and look forward to meeting the needs of consumers throughout the Philippines.”
In line with this announcement, Toshiba Philippines also announced upcoming digital products such as their 55-inch glasses-free 3DTV, the world’s lightest and thinnest ultrabook, and their REGZA tablets, both the 10-inch and 7-inch version. We’ll take a look at some of these new products in upcoming posts so stay tuned.