Samsung India targets 25 percent turnover growthFebruary 5th, 2009 - 7:10 pm ICT by IANS
Chennai, Feb 5 (IANS) Consumer durables major Samsung India Electronics Ltd, which reported a turnover of $1.7 billion in 2008, is targeting 25 percent growth this year, a top official said here Thursday.”We don’t see any serious slowdown in our sales owing to the economic slowdown. We are confident of achieving our targets this year” with the government’s measures stimulating demand and banks easing lending norms, Samsung deputy managing director R. Zutshi told reporters after launching a range of air conditioners.
The company is also targeting to double exports to Rs.10 billion (Rs.1,000 crore) in 2009, he added.
“We will invest around $20 million in our Noida and Chennai plants in machinery and moulds,” Zutshi said.
Towards achieving the aggressive targets, the company will double the number of Samsung Plazas to 600 (all franchisee-owned) and increase the penetration of its products in higher number of multi brand showrooms across the country.
Speaking about the air conditioner market, Zutshi said the industry sold around two million units last year and the expectation for the current calendar year is 2.4 million units.
Samsung India is targeting to increase its air conditioner sales volumes by 200,000 to 600,000 units this year.