electronics
TV manufacturer Loewe expects sales growth
At the headquarters of the electronics group Loewe. photo
© Nicolas Armer/dpa
Loewe looks back on 100 years of company history. Despite an eventful history, business continues to be stable. In Kronach, the premium supplier is currently dedicated to display production.
The Franconian television manufacturer Loewe is confident despite the gloomy consumer mood in Germany. For the year 2023, the company from Kronach expects sales growth of 15 percent, as technology chief Thomas Putz told the German Press Agency.
The confidence is based on continued high demand in the premium segment. According to Putz, the manufacturer of high-quality televisions and audio systems had already expected sales growth for 2022. Even if that was not achieved, Loewe developed better than the market.
The company’s economic situation is stable, said Putz. Loewe recently achieved a neutral result, with which one is very satisfied. Loewe did not give specific business figures for 2022. In the 2021 financial year, the Franconian TV manufacturer had sales of EUR 57.6 million and a profit of around EUR 244,000. According to Putz, Loewe generates roughly equal parts of its sales in Germany and the rest of the world.
The company will be 100 years old this Sunday. The company was founded on January 22, 1923 by the brothers David Ludwig and Siegmund Loewe in Berlin. Over the years, the company has changed its name and legal form several times. Most recently, in 2019, a new start began with a foreign investor – with, according to Putz, initially 35 employees.
Around 200 people are currently working at Loewe again, around 160 of them in Kronach. The company continues to focus on the premium segment and would like to set up a new display production facility for luxury televisions there.