Samsung wants sales worth Rs 10,000 cr from TV biz in India
Samsung India wants to notch up Rs 10,000 crore sales from the television business in India in calendar 2024 while expanding the production and local value addition in the country, senior vice president (visual display business) Mohandeep Singh said.
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 6818 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 appliances like refrigerators and washing machines. The company in
