Chennai, July 15 (Inditop.com) The Indian arm of Korean consumer durable major Samsung India is targeting a turnover of $2 billion (about Rs.10,000 crore) this calendar year, said a senior company official here Wednesday.
“Our turnover target for the current year is $2 billion of which exports will be Rs.1,200 crore,” company deputy managing director Ravinder Zutshi told reporters.
“Last year, we posted a turnover of $1.7 billion with exports amounting to Rs.500 crore,” Zutshi said while launching 19 new models of fully automatic washing machines.
The company exports colour television sets, washing machines, refrigerators and other consumer durables to SAARC nations.
Zutshi said Samsung was betting on flat panel business (liquid crystal display, plasma television sets and monitors) and the fully automatic washing machines to increase its turnover.
In 2008, Samsung India sold 610,000 washing machines, of which 240,000 units were fully automatic washing machines. “This year, we are looking at around 31 percent growth in washing machine sales,” Zutshi said.
The company will also expand its channel network by 20 percent opening 100 new Samsung brand stores, taking the total to 300.
Asked about fresh investments, he said: “This year we will be investing $20 million in plant and machinery and moulds in our Noida plant. We do not have any plans to expand our Chennai plant capacity.”
