Samsung India Electronics (SIEL) has set a turnover target of Rs 650 crore for the 1998-1999 fiscal, an increase of 62.5 per cent over the around Rs 400 crore achieved the previous year. With this, the company hopes to break even by April 1998.
At the end of 1997-98 fiscal, the company's accumulated losses stood at $2 million, while its reserves were Rs 556 crore.
Samsung is expanding its product range by introducing a host of new models of air-conditioners, direct cool refrigerators, washing machines and microwave ovens in the current fiscal.
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It is launching two models of ACs in the 1.5-tonne category in the window as well as the split variety. According to a company release, the ACs are equipped with a rotary compressor that provides powerful cooling at a high energy efficiency ratio, consumes less power and operates at low noise levels. The window AC is priced at Rs 30,230 while the split AC carries a tag of Rs 58,000 (inclusive of sales tax and installation).
It is also introducing two direct cool refrigerator models in the 190-litre and 230-litre capacity range on an OEM basis to supplement the existing frost-free 300-litre range.
According to Samsung India managing director B M Park, the company has invested Rs 1 crore in preparing the design and moulds for the two new models. The 190-litre model is priced at Rs 9,990 while the 230-litre model is priced at Rs 11,590.
The new washing machines being introduced by Samsung are in the 5.5-kg and 6-kg capacity segments. The 5.5-kg model comes with a plastic tub and is priced at Rs 16,990, while the 6-kg model has a steel tub and carries a price tag of Rs 18,990.
Samsung is also introducing 20-litre combi grill microwave oven model priced at Rs 12,500 to add to the 20-litre, 26-litre and 34-litre models priced between Rs 10,800 and Rs 27,900.