Business Daily from THE HINDU group of publications
Saturday, Jun 17, 2006
Business Daily from THE HINDU group of publications Saturday, Jun 17, 2006 |
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Marketing
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Strategy Samsung in revamp mode, plans new models K Giriprakash
Plans for growth The company hopes to become a $2-billion company by 2008. To make smaller investments to boost capacity for certain products. It has earmarked around $20 million investments during the current year.
MR RAVINDER ZUTSHI, Managing Director, Samsung India
Bangalore , June 16 Samsung has revamped the entire product line of audio, visual and home appliances' businesses and has already rolled out 100 new models as part of the exercise. It is also in talks with Reliance and a few other big retail chains to strike long-term alliances, the company's Deputy Managing Director, Mr Ravinder Zutshi, told Business Line. "We already have tie-ups with Metro in Bangalore and Home Solutions and are in talks with several others for such tie-ups," Mr Zutshi said. He said once the big retail chains start setting up their operations here, consumer electronic companies such as Samsung would, in fact, get additional business from them. "We will get additional business from big retail chains though it may not be much," he said. He said most of the business would still come from dealerships and retail chains thatare smaller in size. "The market is built differently than that in the West," he said. He said Samsung expected to become a $2-billion company by 2008 and smaller investments would be made to expand the manufacturing lines. "We have made most of our investments. To increase capacities for certain products, we may make smaller investments to set up a few more manufacturing lines," Mr Zutshi said. Samsung will soon start manufacturing flat panel television sets in its facility here and has commenced domestic production of slim fit television sets. The company has so far invested $150 million and during the current year has earmarked around $20 million investments, according to Mr Zutshi.
New launches
He said Samsung had launched 17 new refrigerator models in April and except two, the rest were over 400 lts. It hadalso launched 19 new air-conditioners and five new MP3 players, apart from launching seven new flat television models. It expected to sell around 1 lakh flat panel television sets during the current calendar year. It has 11 flat panel television models in the range of Rs 35,000 to Rs 3 lakh. In the home appliances segment, Mr Zutshi said Samsung was working on launching models withsuperior technology. Samsung has also launched a new set of monitors called `eye fresh technology' monitors. These monitors are available in 15-inch as well as 17-inch screen sizes. Theyhave a coating on the rear that emits anions and far infrared rays thatreduce eye strain. Globally, Samsung invests around 8 per cent of its sales turnover on research and development every year.
Related Stories: More Stories on : Strategy | Consumer Electronics
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