Mumbai: Samsung India Electronics is expecting to clock in 22% growth in its turnover at $1.3 billion this year, a top official said today.
“We had a turnover of $1.03 billion (Rs5,200 crore) in 2006 and we are looking at a 22% growth this year,” Samsung India Electronics Pvt Ltd Deputy Managing Director Ravindra Zutshi told PTI on the sidelines of an event held here.
Samsung’s panel TV and frost-free refrigerators businesses have gained a significant market-share and have driven the growth of the company, Zutshi said.
TFT and LCD has added to 60% of the revenue of IT monitors’ business, he added.
“This year the company will be focusing on the printer business and is aiming for a 25% market share,” he said.
Zutshi said the company’s new manufacturing plant in Chennai is likely to start operations within a month.
The plant will be manufacturing around 1.5 million colour TVs and one million monitors, he said.
“The company plans to invest around $100 million by 2011, while this year we will be investing around $24 million,” he said.
He said the company would score on deliverance and logistics as it already had a manufacturing base in India.
“We, as a brand, are extremely popular in India and I don’t see competition or reduction in our margins despite a lot of Japanese products now coming into India,” Zutshi said.