Samsung eyes 25 percent growth from home appliance biz in 2012

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Samsung eyes 25 percent growth from home appliance biz in 2012
Samsung Electronics said that it is eyeing 25 percent growth from the home appliance business this year on the back of new launches. "We are targeting a growth of 25 percent in both refrigerator and washing machines segments in 2012," company's Vice President (Home Appliances) Mahesh Krishnan told reporters here.

With a growth of 20 percent, the Korean electronics major sold 1.7 million refrigerators and seven lakh washing machines last year, he said.

Home Appliances comprising refrigerator and washing machines constitute 50 percent of Samsung's total sales in the country.

When asked about any adverse impact of drought hitting several parts of the country this year on the demand of home appliances, Krishnan said the company is still assessing the same but added that it could have an impact.

"It (drought) can have an impact. Indian economy is depended on monsoon... but we are still assessing the impact (on demand)," he said.

However, he said about 10 percent price increase in electronic items in last one year has had an adverse impact on the country's market of home appliances, with growth in sale of refrigerators and washing machines remaining flat.

"In the last one year, prices (of consumer items) have increased by 10 percent on account of sharp appreciation of US dollar against rupee, leading to hike in raw material prices," he said.

"Though it has been a tough period, but we have not degrown or seen any slump in sale," he said.

The size of home appliance market in the country is pegged as $3.6 billion, Krishnan said.

Samsung is now looking at rolling out new products to perk up the sale in home appliances segment to cash in on the festive season ahead and is expecting the emerging towns and rural markets to drive growth.

The company today launched new direct cool refrigerators and semi-automatic washing machines with a price range of Rs. 11,300 and Rs. 18,900 for refrigerators and Rs. 10,950 and Rs. 11,950 for washing machines.

"We expect emerging towns and rural market to drive the growth and with the launch of new products, we expect 25 percent growth in 2012," Krishnan said.

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