Vestel Group CEO Turan Erdogan speaks exclusively to IFA International
With a number of world firsts at its stand at IFA this year, Vestel continues to leverage innovation to drive business. In an exclusive interview, we asked Turan Erdogan, CEO, Vestel Group how Vestel is evolving.
In a slow European consumer electronics and home appliances market, Vestel’s home appliance business grew at a double- digit rate last year and continued its upward trend with double-digit growth again in the first half of the year.
Tell us about your product ecosystem.
Interoperability has been an issue for several years after IoT/smart devices were introduced to consumers. Vestel has been offering the market a full range of smart/connected products and services. The company makes smart products that are compatible with all open platforms as well as some closed platforms, dedicated to brand categories. Innit is another ecosystem in which Vestel home appliances work to serve smart content to the consumer. All these efforts are based on enhanced data security and privacy rules.
What is your view on OTT services and integration with products?
Dominance of OTT content consumption is a reality rather than a trend. Vestel leads the industry in terms of integrating all the OTT content players such as Android TV, Fire TV Edition and Roku. Consumers are likely to accept all these new platforms, especially those that are enabled with voice search and assistant functions.
What are your star products at IFA this year?
This year, Vestel is showcasing more than 700 products in Hall 8.2 including some firsts in the European market, for example the first Android TV Version P with Freeview Play; and the first Amazon Fire TV Edition. We are also showing a world-first with the Alexa built-in TV with far-field microphones. Vestel is also presenting a variety of 8K TVs including a 120-inch giant display; voice-integrated and assistant-enabled TVs; mini- LED TVs with new backlight technology enhancing local dimming; and dual- cell TVs with mega zones enriching picture contrast performance.
THIS YEAR, VESTEL IS SHOWCASING MORE THAN 700 PRODUCTS IN HALL 8.2 INCLUDING SOME FIRSTS IN THE EUROPEAN MARKET
Vestel is showing home appliances that put the human being at the heart of innovation and design. For example, refrigerators employing FermentStore and Vacuumbag technologies that enable end users to make healthy, homemade food that can be stored up to eight times longer that is possible with standard refrigeration. For ovens, while HotAir Shield technology prevents the hot and humid air reaching the end user, HeatWrap technology enables multiple cooking employing up to five trays at the same time.
Please tell us more about Vestel Ventures, its foundation and the projects you support.
Vestel Ventures is an investment company founded in 2015 by Vestel Electronics to support new ventures and add new areas of business to the group. Vestel Ventures offers strategic support to entrepreneurs by providing resources in R&D, design, production, marketing, distribution and sales along with the company’s business network and managerial experience, channeling energy into their projects through our V3 formula – Cash + Support + Funds. Vestel is also a significant player in international markets, with exports to 155 countries and a wide sales and marketing network. At the end of 2018, Vestel Ventures had invested in 15 ventures in Turkey and abroad, in the areas of energy, health, bioplastics, mobile apps, virtual and augmented reality technologies, smart city, and customer services.
Photo: Turan Erdogan, CEO, Vestel Group