New Delhi: Samsung India, the Indian subsidiary of Korean consumer durables maker Samsung Electronics will double its contribution to global revenue to 5% by 2013. For the year financial year, 2011-2012, the company is expecting a growth rate of 40% , said the company’s deputy managing director Ravinder Zutshi at the Southwest Asia Regional Forum held in Delhi on Wednesday.
In keeping with its focus on the premium segment, the company on Wednesday announced the launch of 60 models across products categories such as television, refrigerators, washing machines and tablets, among others, marketed under the “Smarter Life Concept”. The tablet category has a demand potential of 7,50,000 to 1 million units in India and the company aims to capture 40% market in the smart appliances and 50% market in tablets, this year, Zutshi said.
The company is targeting sales of 1.5 lakh units of flat panel TVs and 2.4 lakh refrigerators this year. It also expects to capture 40% share of the Indian flat TV market with at least 15% contribution to this from its high definition television range. Samsung India plans to invest Rs 350 crores in its Chennai based plant where it manufactures flat TV’s, ACs, monitors and front-load washing machines, by 2015 to boost capacity. Samsung India has one more manufacturing facility in Noida in Uttar Pradesh.
Speaking at the event JS Shin, president, Samsung Electronics Southwest Asia, said the company sought to emerge as a market leader in the region, with new products and technologies from Samsung’s television, digital camera, smart mobile device, IT Solution and homeappliance businesses.
In 2010, Samsung India grew at 60% clocking a revenue of Rs 16,000 crore and contributed 2.5% to the Samsung’s global revenue which stood at US$135.8 billion.