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| Samsung eyes $2 bn sales in India this year |
| Press Trust of India / New Delhi Apr 29, 2009, 18:27 IST |
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Korean consumer electronics major Samsung today said it is aiming to achieve a turnover of $2 billion this year in India on the back of new products and sale of mobile handsets.
The company, which is targeting sales growth of 30 per cent over the last year, will infuse $20 million to bring more products in the country.
"There is no recession in India, we had around $1.7 billion turnover last year and this year it may cross $2 billion, with around 30 per cent growth," Samsung President and CEO (South West Asia) Jung Soo Shin told reporters here.
The company is primarily banking on new product launches and sale of mobile handsets to drive the growth. Samsung introduced its latest LED TV range, priced between Rs 1.25 lakh and Rs 3.5 lakh, here today. It has recently launched a new series of ACs, refrigerators.
According to a company official, Samsung India has lined up a few launches this year, in different categories including air-conditioners, home appliances, mobile phone. "So our over all investment would be around $20 million this year," the official said.
Samsung plans to sell around 60,000 units of LED TV, which would help double the sales of flat panel TVs to six lakh units by the end of the year, Samsung India Deputy Managing Director R Zutshi said.
"We are planning to sell six lakh units of our flat panel TV this year. We expect that 10 per cent of it would be our LED TVs," he said.
Speaking about the company's handset business, Shin said, "Our mobile handset business is growing at 100 per cent, we had sold around eight million handsets last year and this year the total sales of handsets is expected to cross 15 million."
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