Samsung India plans 40 percent turnover growth to clock $5 bn
September 9th, 2011 - 6:09 pm ICT by IANSKolkata, Sep 9 (IANS) Digital technology major Samsung Electronics plans a turnover growth of 40 percent for 2011 to clock $5 billion in India this year, a top company executive said Friday.
“Our plan for growth is 40 percent across segments for this year… Last year our turnover was $3.5 billion and this year we plan to achieve $5 billion,” Samsung India (Home Appliances) vice president K. Mahesh said.
“We have clocked about 80 percent growth in LED TV sets,” he said.
Asked which region is giving the maximum growth to the company, he said: “A lot of expansion is happening in Tier I, II and III towns. We see a lot of growth coming from the smaller towns.”
On investment plans, Mahesh said the company has just completed an investment of about Rs.350 crore in its Chennai plant to upgrade capacity.
The company normally invests another Rs.100 crore to Rs.110 crore every year, he said.
He said the company has hired an Italian designer to design its premium segment refrigerators.
“We hired Italian designer Nathimo Zucci. He basically designs watches and jewellery. We got him to design our refrigerators. This is for the premium segment. The refrigerators are already available in the market. This is the first of its kind,” he said.
- Samsung India posts $3.5 billion turnover in 2010 - Jan 20, 2011
- Samsung to make India production hub for consumer electronics - Nov 26, 2010
- Panasonic India eyes Rs.25,000 crore turnover by 2015 - Jun 25, 2012
- Daikin India to commission room air conditioner line in July - Feb 21, 2012
- United India Insurance targets Rs.8,000 crore premium - Nov 10, 2011
- Chola MS targets Rs.2,500 crore premium by 2014-15 - Sep 03, 2012
- Whirlpool introduces new products for larger market share - Mar 22, 2012
- Wheels India to invest Rs.70 crore on expansion - Oct 27, 2011
- Panasonic India to relaunch Sanyo brand - Sep 10, 2010
- United India to expand micro-offices, agency channel - Sep 18, 2012
- Stanley Lifestyles plans to open four overseas stores - Jun 18, 2011
- Reliance Industries Q1 net profit declines 21 percent - Jul 20, 2012
- GRSE aiming at 25 percent turnover rise in FY13 - Apr 17, 2012
- Samsung India targets $2 bn turnover this year - Jul 15, 2009
- India's biscuit industry heading towards premiumisation (Feature) - May 03, 2012
Tags: bn, clock 5, company executive, crore, digital technology, home appliances, india home, investment plans, italian designer, mahesh, maximum growth, refrigerators, samsung, samsung electronics, segment, segments, turnover growth, tv sets, vice president, watches