Riding on an industry-record sale of two lakh-plus units of flat-panel TV sets in just a month of the recently concluded festive season, consumer durable firm Samsung India has clocked an overall 30% jump in sales revenue to a little over R2,500 crore compared to same period last year.
Because of this, Samsung has managed to corner over 40% of its own 2011 revenue target in just 45-days of festival period (September 15-October 31), which is much ahead of the industry average of 25-30% sales for the consumer durable industry during this period.
Overall, the R40,000-crore consumer durables industry clocked a business of R7,100-7,500 crore in this year?s festive period, of which Samsung India managed to corner 34-36% market share, industry sources said. This has come in the backdrop of a slowdown in the factory production as reflected by the recently released IIP data.
?Our home appliance segment grew 20%-plus in the festive period, while we doubled the flat-panel TV sales this year over same period last year despite the perception of an overall slowdown. This is the industry-best and no one has sold 2 lakh-plus units of flat-panel TVs in a month,? said a senior company executive. Sources said the consumer durable industry as a whole sells an average of 3.7 lakh-3.8 lakh units of flat-panel TVs every month, while Samsung India alone sold over 2-lakh units within October.
Samsung also claimed to have sold the highest number of refrigerators, microwave and washing machine in the festive season this year. Overall, the company says it?s on track to meet its sales target of R22,500 crore in 2011, an aggressive 40% growth over 2010. Last year, the company had clocked R16,000 crore in sales revenue.
According to experts, the growth numbers for Samsung and the consumer electronics industry as a whole are not surprising when looked through the prism of IIP for the month of September. ?In terms of industries, 15 out of the 22 industry groups in the manufacturing sector have shown positive growth during September 2011 compared to the corresponding month of the previous year. The industry group ?Radio, TV and communication equipment & apparatus? has shown the highest growth of 25%,? the IIP data numbers said.