India Is The Main Market For Four Upcoming High End Samsung Products
India is the most important market for Samsung four upcoming air conditioning products.
Samsung most important market for its upcoming commercial segment products is India, according to an executive of the company. The target is $10 billion contribution in per year sales of the new product lines by 2020, said a vice president sales & marketing, Charles Park, during the Samsung AC forum in Korea.
The electronics giant has sold many products in India, from smartphones to bigger products, such as air conditioners and refrigerators. On Friday, according to ETRetail, Mr. Park also informed the public about the productions saying, “Mass production would start at the end of this year in December and we are looking to export these products in the global markets starting with countries in Europe, Middle East, South East Asia and India, which is an attractive market to start with.”
The high-products that are to be released in India remain disclosed. The expected products to be released on the Samsung AC forum 2015 include a 360 Cassette air conditioning unit, a DVM S 30HP, side discharge VRF, and many others. The company did not disclose the prices of the products but it stated that the prices of the products would have a balancing price-to-feature ratio. To have a reduced price, it plans to have the products manufactured in Korea for the cheaper labor and production cost.
The company plans to display its products in 117 cities and 50 markets. The event will have almost 9,000 international partners and have complete media coverage to provide in-depth information of its products. Mr. Park informed about the company’s plans to host international roadshows in five cities of India, such as Delhi, Goa, and Mumbai putting the outstanding products on display.
Samsung has high hopes for it air conditioning products sales in India. It has also announced the plans of collaborating with architecture experts and professors for the success of Internet of Things (IoT) in the year to come. Analysts regard IoT as the ‘next big thing’, which has grasped the attention of people.
The Galaxy phone maker plans to expand in numerous markets globally. According to one of the company’s top management, it is having a trial and test for some of its products in Southeast Asia before spreading to other neighboring countries. It recently announced its third quarter earnings with a profit going up by 82% to 7.4 trillion ($6.46billion), revenue rose by 8.9% to 51.7 trillion Won.
Samsung stock closed at $1,050.00 on October 15.