Samsung sees 30% spurt in festival sales

Samsung India expects better sales this festive season, riding on the twin engines of price realisation and volume.

The company is bracing for a 30% growth in festive season sales against 25% a year ago.
“2008 was not bad for Samsung… it continued to grow,” company officials said. This is despite consumers tightening their purse strings in view of the global meltdown.

Industry sources said there has been a 5-7% recovery in growth in the consumer electronics space this year.  All the same, unlike in previous years, there will be no discounts offered. Company officials said, growth this festive season will be driven mainly by new products in a few categories —- consumer electronics (mainly television), mobile phones, laptops and digital still cameras.   Overall, Samsung is targeting a turnover of over $2 billion, which would be a 25-27% growth over $1.7 billion seen in 2008.

Plans are afoot to sell six lakh units of LCDs in calendar 2009, of which 10% is targeted from the just-launched LED television models.

“In touch-screen phones, Samsung is looking to establish a leadership position,” Jung Soo Shin, president and CEO, Samsung South West Asia, told DNA. At present, nine touch-screen models are in its kitty.