LG Electronics Romania, Romanian subsidiary of one of the world’s largest electronics and household appliances makers, has downgraded by 15% forecasts on turnover growth margin in current fiscal year due to economic crisis, the company estimating 125 million euros revenues.

The prior forecasts indicated sales of 140 million euros, up 35% from last year’s 104 million euros revenues.

“The growth rate we estimated for this year underwent a slight decline, due to the global financial status. In first half this year, we registered a 30% growth for the local business. We are confident that by yearend, the overall sales volume will register a 20% growth from last year”, said Han Khyu, president of LG Electronics Romania.

He added that electronics market in Romania would surely be influenced at a certain extent by the global crisis. “Given the current situation, we have downgraded the sales forecast by 15% from what we had previously estimated,” said the president of LG Romania.

The producer expects a growth of sales for the forthcoming Christmas season for LG brand, especially for LCD and plasma TV segment, but also for mobile telephony market.

BenQ Romania, the local subsidiary of Taiwan-based producer of electronic equipments, forecasted a sustentation of turnover from 2007 due to financial crisis that dented the development pace of the market.
Last year, the company reported 21 million euros turnover, while early this year, the producer expected a 30% growth up to 28 million euros.

“If in first quarter the market growth was relatively weakly affected by financial crisis, we estimate that in second half this year, these effects will be more striking, denting the market’s development pace and implicitly the performance of main players. In this context, BenQ’s efforts in Romania consist in keeping the turnover at the level of 2007,” said Mike Borze, CEE Managing Director BenQ Austria.

According to him, the last two quarters gear approximately 50-60% of a year’s turnover.