Samsung aims for Rs 10k crore sales from TV biz in India
India unit of Korean electronics maker Samsung wants to notch up Rs 10,000 crore in sales from the television business in calendar 2024, while expanding the production and local value addition of the product in the country, said Mohandeep Singh, senior vice president (visual display business) at Samsung India.
At present, Samsung locally produces 90% of televisions it sells in India.
Talking to ET on the sidelines of the company’s launch of new AI televisions on Wednesday, Singh said the company has embarked on an ambitious plan to become the first television manufacturer to clock Rs 10,000 crore revenue milestone in India.
«This will be driven by premiumisation and volume growth for entry to mid segment range, which was absent last year. We are targeting double-digit volume growth in 2024 as compared to industry projections of a single-digit growth,» said Singh.
Samsung India’s television business has grown in low single-digit in value in calendar 2023 when there was a flat volume or unit sales for the industry, he said.
Singh declined to share revenues of the television business in 2023 or earlier. As per latest Registrar of Companies filing by Samsung India, the company's audio visual business, which includes televisions, colour monitors and audio products, had clocked Rs 6,818 crore sales in 2022-23. The company did not disclose the standalone television business revenue.
The filings show Samsung India’s mobile phone business is the largest accounting for 73% of the revenue, followed by 12% from home
