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Appliances, display business to contribute 50 pc to India topline in next 3 yrs: Samsung's J B Park
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....ppliances, display business to contribute 50 pc to India topline in next 3 yrs: Samsung's J B Park <br>PTI News<br>Dated:- 22-1-2025<br>PTI<BR>San Jose (US), Jan 22 (PTI) Consumer electronics major Samsung expects its appliances and display business to scale up substantially in India, contributing to half of the topline in the next three years, J B Park, President & CEO of Southwest Asia has said.....
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.... The current penetration of consumer electronic products in India is still low, a major market for the South Korean Chaebol, however, it is expected to scale up, helped by factors such as the rise of the Indian economy and middle class. Samsung is aggressively expanding its play into the consumer electronics segment by democratising the latest features such as AI in the appliances and display ....
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....segment (QLED and OLED TVs), which is helping it to gain significant market share in the premium segment. "The consumer electronic penetration in the Indian market is still very low. I think consumer electronics will have much bigger growth, which will increase our revenue portion of the category against mobile phones," said Park. However, penetration of India's smartphone segment has matured ....
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....and is slightly behind the developed countries, where people carry more than one device for their needs. "Maybe the portion of consumer electronics versus mobile will be 50:50 in the future,” Park said while replying to PTI in a media round table here on Tuesday. When asked about the time frame for that, he said: "I think it will come in within three years." Samsung India Electronics' reve....
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....nue crossed Rs 1 lakh crore for the financial year ending March 31, 2024, with its mobile handset business contributing around 70 per cent. In FY'24 Samsung India's total income was at Rs 1.02 lakh crore, in which revenue from HHP (Hand Held Phones), the segment which covers operations relating to mobile phones & accessories, at Rs 71,157.6 crore While the Home Appliances (HA) business, which ....
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....covers its washing machines, air conditioners, refrigerators and microwave ovens - was at Rs 11,350.1 crore. Its Audio Visual business, which is mainly the TV business, had contributed Rs 7,115.2 crore. Besides, Samsung India also has plans to double the number of its Samsung Experience Stores (Economy) by the end of 2025, focusing on the opportunities emerging from the smaller Tier III, IV and ....
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....V markets. The company operates small stores called SES E (Samsung Experience Stores - Economy). "Today we have 400 SES E and we will double it by the end of 2025," he said. Moreover, to assist purchases in India, it is also operating Samsung Finance+, in collaboration with NBFCs, which is now acting as a catalyst in pushing its sales in states having a lower per capita income. "If you loo....
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....k at states like Bihar, Jammu & Kashmir or the Northeastern states, there are many states where we have more than a 60 to 70 per cent attach rate with our Samsung Finance + to serve these needs," said Park. PTI KRH DRR<BR> News - Press release - PIB....