Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Corporate
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Outlook Samsung expects to top Rs 5,000 cr sales this year Our Bureau
Bangalore , Jan. 29 SAMSUNG India has posted a turnover of Rs 3,708 crore in 2003 with consumer electronics and home appliances business showing a growth of 30 per cent during the year. The company expects to better performance in the current calendar year and has targeted 42 per cent growth to take its turnover to Rs 5,273 crore. Samsung's consumer electronics and home appliances business earned revenues of Rs 2,205 crore in the ratio of 66:34. The company sold 1.25 million colour television (CTVs) to garner a market share of 17.4 per cent. The Indian CTV market in 2003 was pegged at 7.1 million units. It sold three lakh flat CTVs and emerged as the leader in the category with 37 per cent share. The company hopes to push about five lakh units in the current year. Samsung India has projected CTV sales of 1.3 million cases in the current year with emphasis on pushing high-end models. In home appliances business, Samsung reported 9.6 per cent share in refrigerator market, 13 per cent in air-conditioners, 20 per cent in washing machines and 33 per cent in microwave oven. Mr R. Zutshi, Director, Sales, Samsung India Electronics Ltd, said the company was poised to significantly improve its market share across home appliances categories during 2004. He said Samsung wanted to be the No.1 technology brand in the country through strengthening digital leadership, lifestyle marketing and strengthening of home appliances portfolio. The company, with $15 million investment plan this year to enhance manufacturing capabilities, will also ramp up the network of Samsung Digitahomes stores from the existing 21 to 55 and improve its service network significantly.
More Stories on : Outlook | Consumer Electronics
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