Mitsubishi's display wall systems, LCDs and projectors have enjoyed considerable sales increases during recent years, with a series of high-profile installations including a major project at the St Petersburg Situation Centre. The company says that its LED screens are also beginning to penetrate the Russian market.
"Russia is a very important market for Mitsubishi Electric," Noritsugu Uemura, general manager of the Moscow representative office of Mitsubishi Electric Europe BV, told II. "Currently, sales in markets outside Japan contribute around 35% to Mitsubishi Electric's total revenue. Russia with its strong economical growth and multitude of business opportunities will continue to play an important role in realising our strategy for growth in overseas markets."
Sales data bears out the impression of sustained growth, with the value of imports of Mitsubishi Electric products to the Russian market set to exceed _75m in the financial year to 31 March 2008 - over 3.5 times more than in 2002. In the next few years, the company expects annual sales growth in Russia to be around 15%.
The manufacturer recently opened a second representative office in Yekaterinburg and now has a total of over 60 partners serving Russia and the CIS states of Armenia, Azerbaijan, Byelorussia, Georgia, Kazakhstan, Moldova and Ukraine.