Samsung (I) To Double Exports, Eyes New Markets In Europe

Kolkata, April 24: | Updated: Apr 25 2002, 05:30am hrs
Samsung India Electronics Ltd, the consumer electronics and home appliances major, is eyeing new export markets in Europe for its made-in-India colour televisions. The company plans to double its exports to 200,000 TV sets by end-2002.

During 2001, Samsung India exported only 14” CTVs to Sri Lanka and Vietnam in Asia and the UK and Spain in Europe. Samsung is now planning to enter Germany and Hungary with its 14”, 20” and 21” CTVs. In 2002, Samsung hopes to rake in Rs 80 crore only from exports. Ravinder Zutshi, vice-president for sales, Samsung India Electronics, said the company is eyeing sales of 900,000 CTVs in 2002 of which 700,000 will be in the domestic market. Samsung’s focus will remain on flat TVs where it is currently the number two player with a marketshare of about 18 per cent behind market leader Sony. Samsung, which set up shop in India in December 1995, is upgrading its product portfolio to boost sales. In 2002, Samsung India is targeting sales of Rs 668 crore from its home appliances business, which would account for approximately 44 per cent of its overall turnover target of Rs 1520 crore, against Rs 1320 crore in 2001.

On plans for the eastern region, Mr Zutshi pointed out that eastern India accounts for almost 17 per cent of the company’s sales.

“North India is a strong market for us but most of our high-end products sell extremely well in the east. Overall in 2002, we are targeting sales worth Rs 265 crore, against Rs 216 crore that we reported last year. For the east, we have lined up a series of events including dream home roadshows and campaigns to increase brand awareness among the people,” Mr Zutshi said.

Samsung India on Wednesday launched a new campaign with the World Cup soccer in mind. Similar to a campaign launched by Philips earler, the Samsung campaign is called “Dabaake jeeto offer” and is aimed at generating additional revenues for the company. The offer will be valid for May and June 2002. Samsung is planning to sell 200,000 TVs during the period, 25 per cent more than what it did last year during the same period.

To boost sales, Samsung has launched several new products including digital flat CTVs, top-of-the-line frost-free refrigerators and washing machines.