IT division helps Samsung's growth

Powered by good growth by its IT division, Samsung India achieved a sales turnover of Rs. 1,247.4 crores in the first six months of calendar 2001. The consumer electronics and home appliances division registered turnover of Rs. 640.2 crores and the IT and telecom division achieved sales turnover of Rs. 607.18 crores. Samsung achieved a growth of 38.3 per cent in the first half of 2001 over the corresponding period last year.

The consumer electronics and home appliances division grew by 16.4 per cent while the IT/Telecom business achieved a growth of 72.5 per cent.

Announcing the results, the company vice-president, Mr. R. Zutshi, said, ``We could achieve a double digit growth in the first six months despite sluggish market conditions largely on account of the growth of our home appliances business and the consolidation of our CTV sales this year.''

The company is also planing to further strengthen its home appliance portfolio. Accordingly, washing machines has been identified as the next product category where Samsung plans to get into manufacturing. The company also announced the launch of new refrigerator and washing machine models.

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Section  : Business
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