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Samsung completes 10 years in India, eyes $5.5 billion turnover in next five years

Samsung completes 10 years in India, eyes $5.5 billion turnover in next five years

Author | Sumita Patra | Thursday, Dec 08,2005 8:57 AM

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Samsung completes 10 years in India, eyes $5.5 billion turnover in next five years

Samsung India Electronics Ltd (SIEL), one of the digital technology leaders, recently completed a decade of its business operations in the country. Launched in India in 1995, SIEL has come a long way and is ranked in the top 3 slot in most product categories that it sells in India.

Speaking to exchange4media, Ravinder Zutshi, Deputy Managing Director, SIEL, said, “Over the past decade, we have been establishing our roots in the country – setting up manufacturing operations, making Indian consumers aware about our products and services, launching new products, and sometimes creating new product categories in the Indian market. Going forward, we will not only continue to follow our customer oriented approach, but even take the lead by creating exciting products that combine functionality and styling in almost any combination to suit a customer’s lifestyle.”

Samsung’s product portfolio in India comprises consumer electronics, home appliances, IT and telecom products. The company supports its business in India with manufacturing operations for colour televisions, colour monitors, refrigerators, washing machines and ACs.

Contributing around 1.8 per cent of the global turnover at present, SIEL is quite optimistic about increasing its contribution to 5 per cent by 2010. Said Zutshi, “Product innovation, focused marketing and value engineering in manufacturing will be the pillars to help us achieve our brand marketing and business goals in the country.” The company hopes to achieve a sales turnover of $5.5 billion from the Indian market by the year 2010.

Zutshi further said that SIEL planned to achieve this sales turnover by providing leading technology, and premium and differentiated products in the Indian market across different product groups. “Further, we will grow our business with enhanced manufacturing support and sales infrastructure as required,” he said.

Now that the company has completed 10 years, the way ahead for SIEL will be to set up new manufacturing facilities as per the requirements. As far as product line-ups are concerned, the company endeavours to introduce new, innovative products in the market and create a demand for those products.

The consumer electronics market is currently dominated by players like LG, Phillips, Electrolux, and Sony. When asked whether there was room for more players, Zutshi indicated the entry of Chinese players in the market, who are making their presence felt right now and didn’t rule out the possibility of a consolidation among the existing players.

Elaborating on the brand strategy that the company is going to adopt in order to stay ahead of the competition, Zutshi, said, “Samsung has built its success on excellence in design and innovative technology and in the years ahead, it will take the lead in providing what we call ‘unlimited choice’ to customers – creating exciting products that combine functionality and styling in almost any combination to suit a customer’s lifestyle.”

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