Samsung eyes 20% rise in FY08 revenues

Korean electronics major Samsung India expects its sales revenue to go up by 20 per cent to $1.2 billion this financial year compared with $1 billion in FY07.

Samsung expects to garner 50 per cent market share in the fast-growing flat panel category, including LCD and plasma TV, where it expects to sell 200,000 units this year. Last year, Samsung was the market leader with 40 per cent share, while rival LG Electronics followed with 32 per cent share, industry sources said.

"Flat TVs should contribute 11 per cent by volume to our total TV sales this year and we expect this contribution to grow by at least 30 per cent by 2009," Pradeep Tognatta, director of sales, Samsung India, said at the launch of 12 new models of LCD TV and five plasma TVs.

While the new LCD models will be available in the price range of Rs 29,000-500,000, the plasma models will be available in the Rs 89,000-540,000 range.

Samsung is also eyeing improved sales from organised retailers. It eyes large format chains such as Reliance, Croma and Next to contribute 8-10 per cent to its total sales in two years.

Currently, it gets around 3 per cent of revenue from organised multi-brand and single-brand stores.