Industry may be flat in 2026; we aim for double-digit growth: Samsung India

Samsung India expects the consumer electronics industry to stay flat in 2026 amid a weak rupee and inflation concerns, but says it is targeting double-digit growth led by TVs and ACs

Consumer appliances maker Samsung India aims to clock double-digit growth in the coming year, even as it expects the industry to remain flat due to prevailing macro-economic conditions. 

 

“My ambition is always for a double-digit growth. The consumer electronics industry will be a little stagnant in the coming year as we see a weak rupee and economy. Even though GST has kicked off initially there is still indication of inflation,” JB Park, president and chief executive officer (CEO), Samsung, southwest Asia, told reporters during a select media briefing on Tuesday. 

 

Park was referring to the cuts in goods and services tax (GST) rates earlier during the year, which immensely benefitted the air conditioner and television categories.

 

Speaking further about the rate cuts, he said, the move has helped make TVs and ACs become more accessible to people. 

“Due to the reciprocal tariff imposed by the USA, the industry had a negative outlook. India was among the worst-affected Asian countries. The GST rate cuts have helped revive consumer spending, especially on TV and ACs, which are still perceived as luxury (items), making them more accessible,” Park mentioned.  

 

“Samsung is a beneficiary of the move as volumes rose by double-digit during the festival season, while AC and TV volumes specifically rose triple-digit during the season,” he said, adding, “I am excited about the growing penetration of large-screen TVs and ACs in the country.”

 

According to financial data accessed by business intelligence platform Tofler, Samsung India reported an 11 per cent year-on-year (YOY) jump in revenues for the financial year 2024-25 to ₹114,217 crore, while its net profit rose 38 per cent Y-O-Y to ₹11,287 crore during the same time.

 

On being asked about raising funds through a potential initial public offering (IPO), Park said there are different means of acquiring capital to invest.

 

“One is an IPO, and you can borrow money from the banks, or you can issue corporate bonds, or you can wire the money from headquarters to invest directly based on requirements. There are multiple options that you can get the working capital in place. So, IPO is not in the works,” he said, while not disclosing any amount for investment outlay in the country.

 

Meanwhile, Park said the company will focus on transformation of not just product, but creating an ecosystem, using artificial intelligence (AI), adding that the company will also invest in research and development.