Dongbu Daewoo to supply microwaves to Wal-MartDongbu Daewoo Electronics said yesterday it has a contract to supply 500,000 microwaves with retail giant Wal-Mart in its first major foray into the U.S. market since Daewoo Electronics was acquired by Dongbu Group in February.
The deal comes after 50,000 of its 20-liter microwaves sold out in three weeks.
The home microwave market in the United States represents 6.5 million units a year. Dongbu Daewoo aims to achieve an 8 percent market share this year and 12 percent in 2014.
To that end, the electronics maker best known for washing machines and refrigerators in Korea plans to step up cooperation with other retail U.S. chains such as Costco and Best Buy.
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