Samsung Electronics India Information and Telecommunication Ltd (SEIIT), plans to launch as many as 18 new products and extend its current range of IT and telecom products by December this year.
The company will introduce PC notebooks, MP3 players over the next few months and expand its existing product range of LCD monitors, Hard Disk Drives (HDD), Optical Disk Drives (ODD), laser printers and cellular phones.
SEIIT, which commands a 56 per cent colour monitor market share, is now looking at enhancing the capacity further by three million monitors to four million monitors by 2005 involving a fresh investment to the tune of $25 million.
SEIIT is targeting a turnover of Rs 1,325 crore by the end of this calendar year as against Rs 740 crore achieved last year. The rise in revenues will be on the back of a significant increase in our market shares across all product categories in the past few quarters.
The PC monitor market in India is dominated by Samsung, LG Electronics, Samtel and Microtek. Both the companies together have a market share of around 80 per cent of the 2.6 million domestic market, which is witnessing exponential growth.Apart from Samsung, LG Eelctronics has also recently commissioned its colour monitor plant in India.
Samtel group too is implementing its one million plant with an investment of $8 million, which will go on stream in 2002.