Samsung India posts $3.5 billion turnover in 2010
By IANSThursday, January 20, 2011
HYDERABAD - The Indian arm of Korean consumer durable major Samsung posted a turnover of $3.5 billion (over Rs.15,935 crore) during 2010 and has set a growth target of 40 percent this year, a senior company official said here Thursday.
Samsung India deputy managing director Ravinder Zutshi told reporters that the company achieved 58 percent growth in 2010 compared to the 2009 figure.
He said the $3.5 billion turnover last year covers all three segments of consumer electronics, mobiles and information technology.
The company, which launched a new range of split air-conditioners Thursday, believes that flat panel TVs, home appliances, refrigerators and air-conditioners would the major growth drivers in the current year.
Samsung, which has so far invested $350 million in flat panel business, is targeting sale of 1.5 million units in 2011.
“Ours is the only company which is manufacturing 3D, LED and LCD at its manufacturing bases in India,” Zusthi said.
The firm has two manufacturing facilities at Sriperambudur near Chennai and at Noida in Uttar Pradesh for manufacturing flat panels, refrigerators, air conditioners and washing machines.
It plans to invest $10 million dollars to ramp up manufacturing of air conditioners.
“We are looking at 37 percent growth in split air conditioners during 2011,” he said.
During 2010, three million air conditioners were sold in India and this is expected to go up to 3.6 million during 2011. Samsung, which is number two in the air conditioner market, sold 650,000 units last year and has targeted 800,000 units this year.
It also unveiled a new range of split air conditioners ‘Invincia’ and ‘Purista’ boasting of superior technology and efficient power consumption.
