Intense competition from Chinese and other manufacturers of electronics and household appliances forced the Turkish brand Vestel to freeze retail trade in the Russian Federation. The brand intends to reorient itself and develop in the corporate sector of the Russian market, journalists from the Kommersant newspaper write.
According to media reports, Vestel has already started supplying monitors to Sberbank, Gazprom and Rosatom. Analysts confirm, that large businesses have a need for professional monitors and other office equipment, but in this segment, the Turkish retailer faced high competition both in terms of quality, and in terms of cost.
After the launch of parallel imports, supplies of office equipment and other gadgets to Russia stabilized. In this regard, Vestel cannot sell even that product here, which was brought from Turkey. It is for this reason that the company suspended the project to restart production in the Russian Federation.
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