German MediaMarkt says in Turkey for the long run

German consumer electronics retailer MediaMarkt is doing well in Turkey and is a long-term investor in the country, said a top company executive Tuesday.

"We have achieved a significant market share in the consumer electronics market in Turkey," said Pieter August Haas, the CEO of German MediaMarktSaturn Retail Group and the Ceconomy Group.

The MediaMarkt chain is well positioned in Turkey, Haas told investors via teleconferencing.

The group operates more than 1,020 stores in 14 countries, including Germany, Austria, Italy, Switzerland, Hungary, Poland, Spain, the Netherlands, Belgium, Portugal, Luxembourg, Greece, and Sweden.

Sixty-eight of these stores are located in Turkey.

The group’s overall third quarter 2017 sales fell 1 percent to €4.59 billion, while Ceconomy's online sales rose 21 percent.