Samsung India to pump $20 million in its two units

Samsung India to pump $20 million in its two unitsConsumer appliances giant Samsung India has announced that it will invest USD 20 million in its Chennai and Noida facilities this year to strengthen business operations.

The company has sketched an investment worth USD 20 million for these facilities with more focus on machinery. The company intends to export televisions and front loading washing machines to the SAARC countries from its Chennai unit.

It may be noted that Samsung last year invested USD 200 million as part of global expansion plans.

Apart from latest announcement, the company in a ceremony has launched 18 new models of split air-conditioners and seven window air conditioners in domestic market. The prices would range from Rs. 28,000 to Rs. 36,000 for split and from Rs. 16,000 to Rs. 23,000 for window ACs.

The company reported a turnover of USD 1.7 billion last year and has projected to grow 27 per cent approximately this year.

In addition, company said that its exports would touch Rs 1,000 crore in the current year, including all categories. Last year, the export value was Rs 500 crore.

Technology Update: