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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9717)	11/22/1999 1:54:00 AM
From: Mohan Marette	Respond to of 12475

Samsung India raises sales target, to set up white goods plant next year samsungindia.com Tina Edwin (Financial Express) New Delhi, Nov 21: Samsung India Electronics is planning to pump in fresh investments next year to set up a white goods facility at its 40-acre site in Noida near Delhi. A final decision on the quantum of investment and the products to be manufactured in the first stage will be finalised by December, Samsung executives said. The company has plans to manufacture washing machines and refrigerators at the facility during the next few years. However, it has not yet made up its mind on which product should be accorded a higher priority. Samsung had initially proposed to set up the white goods facility before the year 2000, but plans were deferred subsequently. Samsung India VP (sales) Ravinder Zutshi says the firm will pursue a digital technology-led strategy next year. The company is targeting a sales growth of over 50 per cent next year to Rs 1,500 crore ($340 mil). The company expects to close the current calendar year with a Rs 900 crore ($205 mil) turnover, Zutshi said. He claimed that the firm had already earned Rs 700 crore ($160 mil) by October 1999 and made a profit of Rs 28 crore ($7 mil). The firm has revised sales targets for the next year and now expects to sell 5.5 lakh colour TV sets, one lakh units of ACs and 50,000 microwave ovens.