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Samsung to invest Rs 350 cr in India by 2015

Source : BUSINESS_STANDARD
Last Updated: Sat, Nov 24, 2012 18:50 hrs

Samsung plans to boost its presence in the smart TV category this year and expects the mobile business to 'see a huge thrust'

Samsung Electronics plans to make an additional investment of Rs 350 crore in manufacturing and research and development (R&D) in India by 2015, said B D Park, president and chief executive officer (South-west Asia).

Samsung has so far invested $400 million (Rs 2,200 crore) in India. "We are committed to the Indian market and are willing to bring in the necessary investments to support and grow our business," said Park. The company expects to close the current year with a 25-per cent growth. The company had sales of around Rs 20,000 crore in 2011.

"We retained our market leadership in flat panel televisions (FPTVs), grew our Note PC business and established our market leadership in smartphones during the current year," Park said.

Samsung plans to boost its presence in the smart TV category this year, and it expects the mobile business to "see a huge thrust".

"Samsung plans to lead the convergence era with smart technology products and consolidate its leadership in segments, where it is leading and establish in others. FPTVs, smart TVs, ultrabooks, tablets and mobiles are seen to be growth drivers for the company," said Park.

The South Korean electronics giant had last month launched a 75-inch smart TV priced at Rs 7.5 lakh and has said it aimed to sell about 1,000 units over the next 12 months. The company has seen "healthy consumer interest in the 40-inch and above FPTV segment" and expect this to be a major growth driver next year.

Samsung currently sells 26 models of flat panel TVs in the 40-inch and above screen segment.

The company has earlier this year reportedly said it had targeted a 35 per cent market share in the FPTV business that is expected to touch 500,000 units in the current year.

According to Park, the replacement market, which is growing fast even in smaller tier-II and tier-III cities, would also contribute substantially to the consumer durable companies in the recent years.

"We see a lot of replacement demand coming up in the smaller markets where CRT consumers are upgrading to FPTVs, mobile consumers are upgrading to more feature rich mobile phones and affordable smart phones, etc.

Thus, to reach out to consumers in these markets, we are now offering them products that are customised to better meet their requirements," he added.


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