The Hindu Business Line : Samsung looking at doubling exports

Consumer durables major Samsung India is looking at doubling its exports for the year even as the company expects a 30 per cent growth in its revenue backed by new launches.

The Indian arm of the Korean digital major is also bracing to increase its research and development headcount to 2,000 by the end of this year.

“There is no slow-down in the durables and electronic sector. In fact, the spending on consumer durables has increased by 33 per cent. This apart, rising salary level is also a major boost to the industry,” Mr Ravinder Zutshi, Deputy Managing Director, Samsung India, told presspersons.

Samsung, which announced the launch of its new advanced Freshtech refrigerators in Indian market, had posted revenues of $1.3 billion for 2007.

Mr Zutshi said Samsung will invest $12 million to expand consumer electronics assembly lines and products in India in 2008.

On its exports, he said the company is looking to double its exports from Rs 200 crore to Rs 400 crore.

Speaking on the new launches, he said the Freshtech series in refrigerator has been introduced to enhance the nutritive value of food.

The refrigerators come equipped with a freshness lamp which is located behind the vegetable box. The lamp emits red colour LED rays on the stored fruits and vegetables and keeps its nutritive value intact.

The company is targeting sales of 1.2 million units, besides a 46 per cent market share.

Samsung has also come out with hi-end convection microwave range and is targeting 18 per cent market share by selling 2,25,000 units in 2008 with a volume growth of 50 per cent.

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