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Samsung India Electronics Ltd aims to grow its turnover by 40 per cent to $5 billion (about Rs 23,500 crore) this year. According to Mr K. Mahesh, Vice-President, Home Appliances, the company posted a turnover of Rs 16,000 crore in 2010 calendar year. “The inflation and high interest rates notwithstanding, we are hopeful of meeting our growth targets this year.
There has been no indication of a slowdown in consumption growth so far during this year. The growth, in fact, has been good across all categories of products,” Mr Mahesh said, while talking to newspersons on the sidelines of a media conference here on Friday. Samsung's audio-visual business was expected to clock a growth of 80 per cent while the home appliances division was likely to grow by 20 per cent in 2011, he said. As part of its marketing initiative, the company plans to expand its distribution network in Tier II, III and IV towns.
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