TR Economy & Updates

[Ryder]

I don‘t know how to remove a post to a different thread. Turkish Economy & Updates would be a appropriate place. Very interested in Turkish conglomerates and owner dynasties.

Afaik Sabanci and Koç Holdings stem from traditional entrepreneurs families who grew into their modern forms in the 60s and expanded successfully into diverse branches of economy.

State-funded Korean chaebols like Posco and Korea Telecom were later privatized, or subsidiaries of failed Daewoo Group were taken over by state-owned funds and banks in the aftermath of the Asian Financial Crisis. How and why is the Turkish government building its own „chaebols“?

Turkish Caebols even existed in Ottoman times and continued well into the Turkish Republic.

Difference between them most Chaebols in Ottoman times come from Greek, Armenian, Jewish and Levantine(Italians) heritage. While the Turkish republic all hail from Turkish backgrounds like Sabanci and Koc.

I think most users would explain how some families with their wealth can influence the country.

 

[what]

State-funded Korean chaebols like Posco and Korea Telecom were later privatized, or subsidiaries of failed Daewoo Group were taken over by state-owned funds and banks in the aftermath of the Asian Financial Crisis. How and why is the Turkish government building its own „chaebols“?

All major construction projects in the country go to 5 companies for almost two decades now. All of them close to the President. Same for other public tenders. All of them go to the close circle of the president and his friends.

Free press has been largely destroyed with heavy tax fines and rigged tenders, where they ended up in the hands of friends of the government. Might steer some trouble in here, but Baykar and BMC can also be put in that bucket.

We also have TÜSIAD (Turkeys top industry organization) traditionally the leading association of Turkish companies
and nowadays MÜSIAD (same thing but in conservative, religious) being prepped up as the leading business association for pro-government companies.

 

[Huelague]

All major construction projects in the country go to 5 companies for almost two decades now. All of them close to the President. Same for other public tenders. All of them go to the close circle of the president and his friends.

Free press has been largely destroyed with heavy tax fines and rigged tenders, where they ended up in the hands of friends of the government. Might steer some trouble in here, but Baykar and BMC can also be put in that bucket.

We also have TÜSIAD (Turkeys top industry organization) traditionally the leading association of Turkish companies
and nowadays MÜSIAD (same thing but in conservative, religious) being prepped up as the leading business association for pro-government companies.

Dont forget the one who builds the new Istanbul airport.

 

[Zafer]

All major construction projects in the country go to 5 companies for almost two decades now. All of them close to the President. Same for other public tenders. All of them go to the close circle of the president and his friends.

Free press has been largely destroyed with heavy tax fines and rigged tenders, where they ended up in the hands of friends of the government. Might steer some trouble in here, but Baykar and BMC can also be put in that bucket.

We also have TÜSIAD (Turkeys top industry organization) traditionally the leading association of Turkish companies
and nowadays MÜSIAD (same thing but in conservative, religious) being prepped up as the leading business association for pro-government companies.

You failed to say that TUSIAD is anti-government.

 

[Bmx98]

I am afraid Brits will not agree with you on that. BEKO is a well established brand in the UK for it’s :
1. Best under-counter fridges and freezers
2. Best value for money white good products
3. Best after sales service

Yes the fridges are good but here in Balkan you don't get after sales services and the price is usually on par with Japanese products when you buy them at major retail stores. Also their other products are really poor quality when compared to European or Japanese stuff, my mom bought a Beko washing machine, it worked well for two weeks then immediately started having problems with noise and shaking.

 

[B_A]

Unless Beko improves on their quality it's not happening, because the quality of the Beko home appliances does not have a good reputation right now.

I am afraid Brits will not agree with you on that. BEKO is a well established brand in the UK for it’s :
1. Best under-counter fridges and freezers
2. Best value for money white good products
3. Best after sales service

That’s funny that beko always said themselves a british company.

white goods are cheap and didn’t earn a lot now. We need much more high tech brands such as cars or smart phone

 

[Ryder]

Yes the fridges are good but here in Balkan you don't get after sales services and the price is usually on par with Japanese products when you buy them at major retail stores. Also their other products are really poor quality when compared to European or Japanese stuff, my mom bought a Beko washing machine, it worked well for two weeks then immediately started having problems with noise and shaking.

You know which brand is good.

Its Asko from Sweden. No matter how much I diss the Swedes they make some fine ass stuff.

My mums Asko washing machine was bought in 2003 and its still working really good.

Asko is expensive but underrated. Mind you this washing machine has been with me since I grew up as I was 10 years old in 2003.

We once had a small analog beko tv. It was trash a lot of beko stuff was trash in the 90s and 2000s but honestly BEKO has come a long way so credit is due for them.

Beko has come a long way no doubt there is improvements the brand needs much beko is much better than in the past thats for sure.

 

[Chocopie]

Asko was acquired by Slovenian Gorenje Group which is owned by Chinese Hisense.
For the more profitable upscale market there are German Bosch and Miele and Italian SMEG.

US giant Whirlpool takes over appliances brands all around the world and produce similar stuff with a different brand sticker on. Cutthroat competition for white goods.

 

[Ryder]

Asko was acquired by Slovenian Gorenje Group which is owned by Chinese Hisense.
For the more profitable upscale market there are German Bosch and Miele and Italian SMEG.

US giant Whirlpool takes over appliances brands all around the world and produce similar stuff with a different brand sticker on. Cutthroat competition for white goods.

Asko is now owned by the Chinese. Damn that really sucks.

 

[Kedikesenfare]

Asko was acquired by Slovenian Gorenje Group which is owned by Chinese Hisense.
For the more profitable upscale market there are German Bosch and Miele and Italian SMEG.

US giant Whirlpool takes over appliances brands all around the world and produce similar stuff with a different brand sticker on. Cutthroat competition for white goods.

It's a common practice in the industry, I guess. All of the following brands are owned by Koç:

Arçelik
Beko
Arstil
Blomberg
Arctic
Grundig
Dawlance
Altus
Flavel
Elektrabregenz
Leisure
Defy
Singer Bangladesh ltd.
Arçelik Hitachi Home Appliances BV (60%)

Companies from Turkey love to hide behind well-known local brands. Most people don't even realize the Turkish origin.

Vestel is a competitor of Arçelik and its owned by Zorlu Holdings - another "Turkish chaebol". Vestel, like Arçelik, has many European subsidiaries.

 

[what]

I've been buying Turkish white goods for a decade now, but I hope that one day they can get rid of all the Telefunken's and Grundigs and just rebrand them as Beko or whatever is their best performing brand + 1-2 low-cost brands and stick with it.

Otherwise, its just watering down their core business and they will never be able to build even a "small" LG or Samsung.

 

[Tabmachine]

It's a common practice in the industry, I guess. All of the following brands are owned by Koç:

Arçelik
Beko
Arstil
Blomberg
Arctic
Grundig
Dawlance
Altus
Flavel
Elektrabregenz
Leisure
Defy
Singer Bangladesh ltd.
Arçelik Hitachi Home Appliances BV (60%)

Companies from Turkey love to hide behind well-known local brands. Most people don't even realize the Turkish origin.

Vestel is a competitor of Arçelik and its owned by Zorlu Holdings - another "Turkish chaebol". Vestel, like Arçelik, has many European subsidiaries.

Best not to mention this too often

 

[Tabmachine]

I've been buying Turkish white goods for a decade now, but I hope that one day they can get rid of all the Telefunken's and Grundigs and just rebrand them as Beko or whatever is their best performing brand + 1-2 low-cost brands and stick with it.

Otherwise, its just watering down their core business and they will never be able to build even a "small" LG or Samsung.

It does have one major advantage though, it detaches consumer behavior somewhat from the media currents against Turkey within Western markets.

 

[B_A]

Asko was acquired by Slovenian Gorenje Group which is owned by Chinese Hisense.
For the more profitable upscale market there are German Bosch and Miele and Italian SMEG.

US giant Whirlpool takes over appliances brands all around the world and produce similar stuff with a different brand sticker on. Cutthroat competition for white goods.

Now Toshiba and many other big Japanese white goods brand are owned by Chinese.

Japanese are almost retreated from White goods .

Now is you Korean brands fighting the Chinese

 

[Chocopie]

Now Toshiba and many other big Japanese white goods brand are owned by Chinese.

Japanese are almost retreated from White goods .

Now is you Korean brands fighting the Chinese

Yes, LG and Samsung will soon loose the medium mass market of white goods. They‘ll have to upscale to premium to survive.

In many other sectors the Chinese are eating up Korean market shares: shipbuilding, cars, TVs, smartphones or other consumer electronics. Korea is doomed, we have to climb up the economic ladder like Japan did before.

 

[Ecderha]

Unless Beko improves on their quality it's not happening, because the quality of the Beko home appliances does not have a good reputation right now.

My home is only BEKO

-Hobs
-Aspirator Hood
-Oven
-Dishwashers
-Vacuum cleaner
-Washing machine and Dryer
-3x Air conditioners
-Refrigerator
-Even I have old Beko TV

I do not have any issue with them.
Here in my town many people like and use Beko.
I do not understand how you come to this "quality" issue!?


Even I just bought the New device which usually Beko was not produced before.
It is Coffee automat BEKO CEG5301X . I love it

 

[dBSPL]

The purchasing power gap between Istanbul and Eastern Anatolia remains deep. This structure in the country is similar to the situation in Italy. In other words, in the coming period, except for Istanbul/Izmit Gulf, some part of Trakya, Izmir and maybe around Ankara and Antalya, the eastern part of the country will still be following much further behind. With the situation in the Balkans and Eastern Europe in general heading for a complete depression, we should have spent the past 20 years more productively. The devaluation of the TRY seems to have been a complete waste.


Off-topic, but the other thing the map reminded me of was this: I like to compare economic (or political election maps)with historical maps.

 

[Lool]

https://twitter.com/i/web/status/1631662279996350465

 

[Lool]

Turkish unemployment rate drops to 9.7 in January; the lowest figure in the last 5 years

Turkish unemployment rate falls to 9.7% in January - statistics institute

Turkey's unemployment rate fell 0.5 percentage points month-on-month to 9.7% in January, while a seasonally adjusted measure of labour under-utilisation rose 0.6 percentage points to 21.9%, data showed on Friday.

www.reuters.com

 

[TheInsider]

Turkish unemployment rate drops to 9.7 in January; the lowest figure in the last 5 years

Turkish unemployment rate falls to 9.7% in January - statistics institute

Turkey's unemployment rate fell 0.5 percentage points month-on-month to 9.7% in January, while a seasonally adjusted measure of labour under-utilisation rose 0.6 percentage points to 21.9%, data showed on Friday.

www.reuters.com

No one believes that TUIK statistics.