Samsung India said on Thursday it would invest $20 million on expansion and on research and development in the country this year with plans to earn 27 per cent of its revenues from the IT segment.
The company plans to open 15 IT stores in the country this year. The electronic major launched its Eye Fresh Technology monitors, which have a milder effect on the human eye, in the Indian market in15-inch and 17-inch screen size segments.
The company has used the world's slimmest CDT monitor Magic Green Slim, which it claims is slimmer by 15 per cent than monitors manufactured by its rivals.
The company has invested $150 million in India since 1996 and plans to invest another $20 million this year, Samsung India Deputy Managing Director R Zutshi told reporters.
"On the basis of introduction of EFT range and Magic Green Slim, we are looking at a 50 per cent growth in our CDT monitor business this year," Samsung India IT Business Vice-President Sanjay Sharma said. Samsung, he said, expects to retain its leadership position in display products in the Indian market.
At the end of Q1 this fiscal, Samsung had enjoyed a 42 per cent share in the CDT monitors and 55 per cent share in LCD monitors in India.
"IT contribution to our business is expected to be 27 per cent this year," Sharma said.
"We are giving a strong thrust to our volume business this year," he said, adding it would be done through new product launch, aggressive consumer oriented schemes and expanding the company's channel.
With the new product line-up in EFT range and Magic Green Slim Monitor, Samsung said it now has a range of 14 CDT monitors, available in 15, 17, 19 and 21 inches, priced between Rs 4,500 and Rs 28,000.
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