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Toshiba Strengthens TV Business in Fast Growing Indonesian Market

19 July, 2002

New Sales and Marketing Company to
Assure Greater Responsiveness to Customer Needs

Jakarta--Toshiba Corporation today announced that it would reinforce its presence in the Indonesian market and assure improved support for its growing customer base through a new sales and marketing company dedicated to promoting the visual products business. Jakarta-based PT Toshiba Visual Media Network Indonesia formally starts business today and its first target is to enhance Toshiba's position in the color TV and Projection TV markets.

Toshiba is already strongly positioned in the Indonesian TV market, where its products have won almost 10% of the overall color TV market and a 20% share in the popular 29-inch model segment. PT Toshiba Visual Media Network Indonesia, an equally-owned joint venture between Toshiba Singapore Pte., Ltd., a Toshiba wholly owned subsidiary, and PT Topjaya Sarana Utama, is expected to build on this firm base and to achieve a near-15% market share by 2005.

The new company's sales and marketing efforts will be strongly supported by P.T. Consumer Products Indonesia, a Jakarta-based Toshiba subsidiary dedicated to production of color TVs for the Indonesian market. It will work closely with PT Toshiba Visual Media Network Indonesia to assure a product mix closely attuned to local market needs.

Indonesia is ASEAN's biggest TV market, accounting for 40% of unit sales in the region; Toshiba forecasts Indonesian sales of 2.2 million units this year, against 5.5 million for ASEAN as a whole. As the color TV diffusion rate is still only 44%, Toshiba anticipates continued expansion, and expects the market to grow to 2.8 million units in 2005 and 3.4 million in 2008. Toshiba is determined to respond to growth with attractive products that meet customer needs, reinforce the Toshiba brand and support continued growth.

PT Toshiba Visual Media Network Indonesia will combine additional Toshiba resources with the expertise and market know-how of Toshiba's long-time Indonesian distributor, PT Topjaya Sarana Utama. The new company will focus on an agile, market-centric management style that supports feedback on market needs to Toshiba's production facilities. Early introduction of distinctive products will be supported by strategic marketing and sales promotions. Marketing capabilities will be complemented building Indonesia's leading after-sales service and support network.

Commenting on the new joint venture, Ginzo Yamazaki, Executive Vice President of Toshiba's Digital Media Network Company said: "We are very confident about strengthening our TV business in Indonesia. This is an important growth market, and we want to be able to offer Indonesian consumers a full-line up of TVs designed for Indonesia--TVs that reflect local wants and preferences. It also positions us to deliver future generations of products, including DVD-players. We are also pleased to extend out long-term partnership with PT Topjaya Sarana Utama and take it to a new level of cooperation. Looking to the future, I am sure that PT Toshiba Visual Media Network Indonesia will do all it can to win consumer support and to thrive and prosper in the market."

Outline of PT Toshiba Visual Media Network Indonesia

Company Name PT Toshiba Visual Media Network Indonesia
Established May 22, 2002
Start of Operation July 2002
President To be decided (appointed by Toshiba)
Address Setiabudi Building 2, 6thFloor Suite 605 JI. H.
R. Rasuna Said Kav.62 Jakarta 12920, Indonesia
Capitalization IDR10 billion
Ownership Toshiba Singapore Pte., Ltd. 50%
PT Topjaya Sarana Utama 50%

Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement,but is subject to change without prior notice.

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