Retailigence

“Club of Knowledge Hunters”

Samsung looks at increasing sales in India

Posted by retailigence on October 4, 2008

NEW DELHI: Consumer durables major Samsung is aiming for a 30 per cent increase in the company’s sales in the Indian market this year, on the back of increased research and development (R&D) activity and new product launches. The company has appointed Olympic gold medallist Abhinav Bindra as its new brand ambassador and also plans to set up 30 additional brand outlets in various cities.

“We clocked a sales turnover of 1.3 billion dollars in India under our various consumer durables categories and expect to increase the figure by 30 per cent this fiscal,” Samsung India Deputy Managing Director R Zutshi told reporters here. He said the company would be focussing on enhanced R&D as part of the effort and also bring out new products in various segments this year.

“We are doubling the number of our R&D engineering staff from the existing figure of 2,000 to 4,000 within the next two years for our Noida facility,” Zutshi said. The company is planning to put special emphasis on the LCD TV and Flat CRT TV segments as part of its growth strategy.

“We currently enjoy a market share of 42 per cent in the LCD TV and 21 per cent in the Flat CRT TV segments and our target is to increase our share in the two segments to 45 per cent and 26 per cent, respectively, by end of the year,” he said. The company is also increasing its sales branch offices by more than double this year. “We have 20 branch sales offices located across the country and are planning to take the number to 50 by end of the current fiscal,” he added.

The number of Samsung’s exclusive brand shops are also set to witness an increase of 50 per cent this year. “We had 120 brand shops by end of last year and have increased the number to 150 this year. Our target is 180 such stores by end of 2008-09,” Zutshi said.

The company expects a growth of 80 per cent in its retail business and is planning to tap new large format retails chains including Croma, Reliance Retail and Aditya Birla Group.

He said Samsung is planning to bring out a series of new products across various segments in the approaching festive season. The company is launching six new variants of its home theatre and the 14.7 megapixel NV 100 HD and the 10.2 megapixel NV 9 digital cameras this month, as part of the strategy. Its brand ambassador Abhinav Bindra, for the period of next one year, would campaign for the company’s all consumer electronics products through print and electronic media.

Regarding the impact of inflationary pressure, Zutshi said the company has hiked the prices of its products across all segments by an average of five to six per cent during past few months.

“Although prices can escalate further, we hope the market will sustain,” he added.

Sources:-www.economictimes.indiatimes.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: