Samsung India is in the constant attempts of growing the sales of more than $10 billion (about Rs 64,000 crore) this calendar year after having recorded nearly $9 billion in 2017.
Smartphones, premium television and appliances like refrigerators and washing machines will be the key products that could increase the sales as per the industry executives who were present in the annual strategy meet “Samsung Forum” held last week in Rome.
One of the industry executives who was present at the event said, “Samsung India’s pace of growth had slowed down in 2017 which was attributed to demonetisation and impact of the roll out of goods and services tax, but it is confident to get back to the growth trajectory this year.”
He said, “They are confident to exceed $10-billion sales despite stiff competition from Xiaomi in smartphones.”
Another executive said while smartphones will continue to be the largest sales contributor, accounting for 60% of the sales, the balance 40% will be generated from consumer electronics driven by premium products.
He said, “For instance, in the ultra-HD television segment, they want to increase market share from 37% to 43%.” Samsung India’s sales in fiscal 2016-17 were around Rs 57,000 crore, growing by 27% over the previous year as it had reportedly filed with the Registrar of Companies (RoC). The RoC has yet to make public the company financials. But for all business purpose, the South Korean consumer technology giant follows the calendar year.