Samsung aims to cross Rs 5000 cr turnover

Samsung India was targeting a turnover growth of about 80 per cent to cross Rs 5,000 crore (Rs 50 billion) during 2003, while aiming to consolidate its position in the consumer electronics market through new product launches.

"We have set a target of crossing Rs 5,000 crore sales turnover during the year as compared to Rs 2,800 crore achieved last year," R Zutshi, director (sales), Samsung India Electronics Ltd, told reporters in Kolkata on Monday.

Out of this, about Rs 2,500 crore (Rs 25 billion) would come from the consumer home appliance division, which registered total sales of Rs 1,480 crore (Rs 14.80 billion) last year, he said.

The company, which set up a $25 million refrigerator plant in Noida last month, expected to increase its market share in product categories like refrigerator, microwave oven, audio systems, CTVs and air conditioners with new launches and to foray into new segments.

The company on Monday launched four frost-free models in the price range of Rs 9,100-27,000.

"With the setting up of the new facility, we have been able to enter the 226-270 litre frost-free segment, which constitutes 38.4 per cent of total frost-free market. It was virtually untapped by the company earlier," Zutshi said.

With this, the company expected to register 105 per cent growth in refrigerators sale to over 400,000 units and raise its share to 13 per cent by 2003, he said.