Turkey: young, increasingly affluent, and now Fuji-official
posted Monday, June 4, 2012 at 1:49 PM EDT
Even among the largest camera manufacturers, it's pretty common that in smaller, less affluent countries, the company is represented locally by a distributor rather than having its own presence. This was the situation for Fujifilm in Turkey, but as of last Friday, the country has graduated to one with its own local Fuji office.
Turkey is quite a young place--more than half of its population is under the age of 30--and with its per capita GDP having climbed above the US$10,000 point for several years now, Fuji sees the potential for significant growth for the Western Asian country. Rather than establishing a new presence, Fuji has acquired all shares in its Turkish distributor, Filmat Dis Ticaret A.S. Henceforth known as FUJIFILM Dis Ticaret A.S., the company is now a subsidiary of the Fufijilm Group, reporting to FUJIFILM Europe GmbH.
Among other business areas, FUJIFILM Dis Ticaret A.S. will be responsible for sales and service of digital cameras, photo paper, and other imaging products. More details in the press release below.
Fujifilm establishes a subsidiary in Turkey with the acquisition of a distributor
Accelerating growth strategies in a fast-growing emerging country
June 4, 2012--FUJIFILM Corporation (President and CEO: Shigetaka Komori) has commenced business operations of FUJIFILM Dis Ticaret A.S., a new subsidiary of the Fufijilm Group on June 1, 2012, after acquiring all shares of Filmat Dis Ticaret A.S. (hereinafter "Filmat"), a distributor in Turkey for digital cameras, photographic paper and other imaging products, medical products, and graphic products, through Fujifilm's European subsidiary, FUJIFILM Europe GmbH.
In recent years, Turkey registered an economic growth of over 8% per annum. The country's per capita GDP has grown over $10,000, a level believed to encourage willingness to purchase automobiles and household appliances. This shows the expansion of domestic demand is driving the economic growth of the country. In addition, the population is predicted to continue growing since more than 50% of the 75 million people of Turkey are under 30 years old. Turkey is drawing attention as a market with high rates of economic growth potential.
With the acquisition of Filmat and the establishment of the local subsidiary, Fujifilm will further and dynamically facilitate the development of the sales strategy in the Turkish market. The subsidiary will also enable Fujifilm to build a direct selling system for swiftly transforming market-orientated marketing activities and to enhance its capability of providing solutions and sales capacity for local customers. Fujifilm will expand business opportunities for imaging products such as digital cameras and photographic papers; medical products such as diagnostic imaging systems and medical imaging network system; and graphic arts products such as digital printing devices and environmentally-considerate plate materials.
Fujifilm will actively promote the delivery of products and solutions that meet market needs in the fast-growing Turkish market in its contribution to the development of industries and cultures in the country.
< Overview of FUJIFILM Dis Ticaret A.S. >
|Business description||Sales of and technical services for digital cameras and other imaging products, graphic products, and medical products|
|Paid-in capital||10,160,000 Turkish lira (approx. 450 million yen)|
|Number of employees||101|