Samsung eyes 35% share of flat panel TV market in India
Mumbai: South Korean consumer electronics major Samsung is bullish on the flat panel TV business in India and is eying a 35 percent market share in the segment that is expected to touch 50 lakh units in the current year.
The company which is present in India through its wholly-owned subsidiary, Samsung India Electronics, currently has a market share of around 30 percent of the 38 lakh units of flat panel TVs in the country.
"We have over 30 percent share in the business, which is more than the industry growth, and this year it should increase by five percentage points to 35 percent," Samsung India Audio Video Business Vice President Raj Kumar Rishi told reporters here.
The firm is also betting big on the LED TVs and expects to garner a market share of close to 40 percent this year from 34 percent in 2011.
"Consumers are showing a strong adoption of LED TVs. It has better technology, lower energy consumption and the better picture performance. We will also launch new products in LED and drive the transition from LCD to LED," Rishi said.
"Samsung's contribution to LED TVs is expected to grow to 70 percent this year compared to 25 percent sale of flat TVs in 2011," he added.
The company today launched its interactive smart TV priced at Rs 37,700 to Rs 2,73,000.
With the new launch, the company is targeting a market share of 65 percent in this category.
Samsung also plans to sell 1.5 lakh units of smart TV units as their market is projected to reach 2.5 lakh units in 2012 compared to over 1.1 lakh units in 2011.