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Samsung launches range of split, window ACs

— PHOTO: BIJOY GHOSH

WIDER CHOICE: Ravinder Zutshi (left), Deputy Managing Director, Samsung India, with actor Sameera Reddy at the launch of bio sleeplus air conditioners in Chennai on Thursday.

CHENNAI: Given the current economic slowdown, Samsung India Electronics, is confident of achieving a growth rate of 25-27 per cent in the current year in the home appliances segment. It had achieved a growth rate of 30 per cent and a turnover of $1.7 billion last year, which was 2 per cent of the company’s global business.

Launching a range of ‘bio sleeplus’ air conditioners here in Chennai, R. Zutshi, Deputy Managing Director, said the economic slowdown would not affect the purchasing power of the consumers. However, the growth rate might dip slightly.

Samsung planned to invest $20 million in the overall business in the current year. The investment would go in for the purchase of modules and machinery for both Chennai and Noida factories. Last year, it had pumped in $200 million. The company would be spending 10-15 per cent more than last year on innovations and R&D, he added.

Exports would touch Rs. 1,000 crore in the current year, including all categories. Last year, the export value was Rs. 500 crore. The company has planned to export televisions and front loading washing machines to the SAARC countries from its Chennai unit. On the air conditioner market, he said the electronics major would achieve a 15-20 per cent market share in the current year. Last year, the company had sold four lakh units, of which 58 per cent came from split ACs. This year, he said, it hoped to sell six lakh units, of which 65 per cent would be from split ACs. Samsung on Thursday launched 18 splits and seven window units. The prices would range from Rs. 28,000 to Rs. 36,000 for split and from Rs. 16,000 to Rs. 23,000 for window ACs.

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