Bangladeshi electronics and technology giant Walton has set up a Research and Innovation Center in South Korea.
In this context, Walton signed an agreement with a reputed South Korean design house to jointly work on bringing groundbreaking changes in the quality and design of electronics and technology products. By setting up the research centre in South Korea, Walton moved another step ahead in winning the global market with Bangladesh made world-class products, said a media release.
According to the authorities concerned, this initiative of Walton will bring a radical change in product quality and design. Though it will raise the cost of production, the Bangladeshi buyers will get the experience of using international standard, quality and designed products. Walton products will also gain more popularity in the global market.
As part of his global market expansion activities, Walton Hi-Tech Industries PLC's Managing Director and CEO Golam Murshed visited South Korea recently. In his presence, the agreement was signed in South Korea's capital Seoul on June 2, 2022). Following the agreement's terms and conditions, neither side has disclosed the name of the Korean design house.
The agreement signing ceremony was conducted under the supervision of Walton Global Business Division's Vice-president of Korea Operations Azmal Ferdous Bappi and attended by, among others, Walton's Head of Supply Chain Mohasin Sarder, Head of Sourcing (Refrigerator) Aminul Islam, Head of Walton Refrigerator's R&I Tofail Ahmed and Head of Electronics R&I Abdul Malek Sikder.
Conforming to the changing global situation, Walton has been taking lots of bold and big initiatives aimed at delivering world-class products with the latest designs to Bangladeshi buyers and also grabbing the global market.
The Bangladeshi electronics giant recently acquired the rights of more than 50-years old reputed three European electronics brands and its production plant, a trademark, patent, design and software license in 57 countries. Now, Walton set up a research and innovation centre in South Korea and also joined hands with a reputed South Korean design house. These initiatives of Walton will play an important role in the economic development of Bangladesh towards securing the status of a developed country by 2041.
Moreover, these initiatives will also pave the way for achieving Walton's goal of becoming one of the top global brands by 2030, the release said.
Walton's Managing Director and CEO Golam Murshed said, South Korea is undoubtedly a leading global hub of electronics and technology products. Setting up a research centre in that country and also working jointly with a reputed South Korean design house is a giant step for the electronics sector in Bangladesh. By combining Walton's capabilities with South Korean expertise, consumers will get international standard products with innovative designs.
He added technology-dependent world is changing rapidly. At the same time, people's needs and tastes are also changing. That's why we took this initiative to deliver innovative design products considering the new generation's needs in the modern world. And customers will get a new experience of using modern and innovative design electronics and technology products, which will make their daily life easier and more comfortable.
According to the industry concerned, the world in the post-COVID-19 period is on the way to economic recovery amid the geopolitical crisis.
In this situation, the Bangladeshi electronics giant is doing very well in the global market. Walton's successes are opening new eras in the electronics and technology industry of Bangladesh, along with making a significant contribution to the nation's economic development, the release added.