Mobile and IT to contribute 50% to sales, says Samsung

Written by Neha Pal | Neha Pal | New Delhi | Updated: Nov 25 2011, 05:52am hrs
Samsung is targeting its mobile and IT business to contribute 50% to its overall sales this year up from 35% last year on the back of sales of its tablets and mobile phones.

The company which till last year had a 65:35 ratio between home appliances division and mobile and IT division is now at 50:50, according to Ravinder Zutshi, deputy managing director, Samsung India. The company is targeting a 40% increase in its overall sales of $3.6 billion this year.

Ranjit Yadav, country head, Samsung Mobile & IT, said, The mobile and IT business would contribute around 50% of the overall sales this year as Samsung is offering a wider product portfolio along with low prices.

The two most important growth drivers of the home appliances category which are refrigerators and washing machines have witnessed a 30% growth over last year.

One of the main reasons attributed by Yadav for the strong growth of the IT and mobile division is that the launch of smartphones and tablets are accelerating the growth of the segment.