Financial Daily from THE HINDU group of publications
Monday, Aug 26, 2002
Financial Daily from THE HINDU group of publications Monday, Aug 26, 2002 |
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Corporate
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Outlook Marketing - Market Shares Samsung eyes big slice in fridge segment Richa Mishra
NEW DELHI, Aug. 25 NOT to be left behind in the race Samsung India Electronics Ltd is all geared to strengthen its market share in both direct cool (DC) and frost-free (FF) categories of the refrigerator segment. "In January-July 2002 period, the company has notched up a growth of 56 per cent over its refrigerator sales in the same period last year,'' Mr R. Zutshi, Vice-President, Sales, Samsung India, said. "We are targeting refrigerator sales of 2,00,000 units this year, which would imply a growth of 29 per cent over the sales last year,'' he added. Further, the company was seeking to consolidate its position in the segment by launching frost-free models in the high-end range as well as enhancing its direct cool line-up, Mr Zutshi said. In the frost-free category Samsung is targeting a 14 per cent market share this year. Elaborating further, he said that the company entered the direct cool segment of the refrigerator product category in August last year with its "Bio Cool'' category. It has beefed up the range by entering the 165 litre category as well as by launching five new, top of the line, advanced frost-free models in the capacities of 400 litres to 570 litres, priced in the range of Rs 37,000 to Rs 98,900, Mr Zutshi said. The frost-free models in 640 litres and 570 litres come with Samsung's patented twin cooling technology, he said. With the introduction of new models, the company has a range of 11 frost-free models in its line-p, priced in the range of Rs 17,500-Rs 1,16,000, Mr Zutshi said. Commenting on the `Freshetarian' commercial, he said that `Freshetarian' was an extension of `Bio Fresh' campaign and sought to build an association between Samsung `Bio Fresh' refrigerators and healthy, nutritious food. For the year 2002, Samsung India is targeting a turnover of Rs 668 crore from its home appliances business.
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