Samsung India Electronics Ltd plans to invest around Rs 25 crore during the current year and has set a growth target of 12.5 per cent during the year.
Samsung India's vice-president for sales R Zutshi told newspersons that the company is targetting sales of around Rs 1,520 crore during 2002 compared with Rs 1,350 crore during 2001. During 2001, the company earned a net profit of around Rs 37 crore.
In the domestic market, the sales turnover is targetted to achieve 16.7 per cent growth in the domestic market and around 100 per cent in the export market.
The white goods major plans to invest around Rs 25 crore in newer models and new manufacturing lines. Last year, the company invested around Rs 4 crore in the manufacturing of refrigerators and airconditioners.
Zutshi said during 2002, Samsung plans to introduce high end colour televisions (CTVs) such as 100 hertz projection TVs, plasma display TVs, flat colour televisions and digital video disc (DVD) player. "The company is aiming to become a more market-driven company by customising its products and services as per the needs of Indian customers," Zutshi said. He said festival sales during the end of 2001 contributed around Rs 275 crore.
Out of the Rs 1,350 crore sales turnover achieved by Samsung India Electronics Ltd in 2001, home appliances contributed Rs 560 crore (41.5 per cent of the turnover) while consumer electronics contributed Rs 790 crore (58.5 per cent).
Samsung sold around 6 lakh colour televisions in the domestic market in 2001, with its flat TV range "Plano" contributing 8 per cent in volume terms. In 2002, Samsung expects flat TV contribution to grow to 14 per cent of the total CTV sales of the company.
Zutshi said the company has targetted CTV sales of around 7 lakh units in the domestic market and exports of around 2 lakh units of colour televisions.
He said for increasing presence in small towns, the company plans to carry out 45 road shows in the north, east, Andhra Pradesh, Madhya Pradesh and Gujarat during the current year.
During 2002, sales from south and west regions are expected to grow by 1 per cent, from 26 per cent and 23 per cent, respectively. The northern region contributes around 35 per cent of the total sales turnover.
Samsung India is a subsidiary of Korean chaebol Samsung Electronics Company Ltd. Samsung Electronics employs around 66,000 people in 46 countries. Its main business units comprises, digital media, semiconductor, information and communications and home appliances.
