Samsung eyes 35 pc growth this year

KOCHI: Samsung India today said it was not affected by the slowdown and was eyeing a 35 per cent growth this year.

"This year, mobile phone business grew by 50 per cent and other products grew by 35 per cent. Currently, growth was intact, but if the rupee devaluation continues, it may affect the company in the long run," Samsung Senior Vice President (Consumer Electronics) Sueng Koo Kim told reporters here.

The company, which clocked a turnover of Rs 24,000 crore last year, was targetting a 35 per cent growth this year, he said.

Samsung plans to touch 1,000 branded shops in the next six months from 450 at present.

Kim, who inaugurated a Samsung Exclusive Showroom here, said to be the largest in South India, said the branded shops would offer all technology products, including Mobile Phones to home appliances and IT under one roof.

Syscon, the largest electronics distributor in the central Asian region, including the Middle East, West Africa and the CIS region are the partners of Samsung for their exclusive brand showroom in kerala. Syscon partnered Samsung brand shops are already functioning in Kozhikode, Palakkad, Thrissur, Kollam and Thoppumpady near here, George Jacob group Chairman and Managing Director, said.

The company plans to open 15 more such branded shops in the state and would invest about Rs 150 crore in the first phase in India. It also has plans to expand to South India.