Samsung India Electronics Private Ltd has added seven new models to its printer division with a view to doubling its growth rate this fiscal.
Announcing the launch of the new line of mono and multi-function laser printers, Uday Bhat, general manager, IT division, Samsung India, said, ?The printer market is the next growth engine for Samsung. The global market for all printers in $135 billion, and the Indian market size for laser printers only, is $460 million.? The printer division of the company expected to increase its market share from 12.5% to 26% this year, by increasing sales from 1,10,000 units to 2,60,000 units. ?We are aiming at a growth rate of 136%, which is roughly eight times the industry growth rate of 16%,? said Bhat.
?HP is a dominant force in the printing businesses today with 69% to 73% of the total market share. We definitely want to break that,? he added.
The company planned to achieve its targeted growth levels by strengthening its printer division organization, increasing manpower in both sales and services, with simultaneous product range and channel expansion.
?We have adopted a multi-pronged strategy of launching new products across all customer segments, supporting the range with a strong communication concept of ?printelligense? and strengthening our channel engagement across India,? said Bhatt.
The company was also planning to franchise 10 IT brand shops and start a new communication campaign labelled ?say hello to printelligense? this year as part of its marketing strategy, according to Bhatt.