February 26 (LBO) – South Korean electronics firm Samsung hopes to double business in Sri Lanka this year, fighting for a bigger slice of the island™s television market.
We are confident of achieving an over 100 percent jump in our business in Sri Lanka this year, Ravinder Zutshi, Deputy Managing Director of Samsung India Electronics said in Colombo.
The company is hoping to close this year with a 40 percent market share in televisions, a 50 percent share in flat panel televisions and a 15-20 percent share in the refrigerator market in Sri Lanka.
The company has just stepped up marketing and distribution, tying up with Singer Sri Lanka as national distributor to reach a wider audience.
Samsung has a manufacturing unit in Sriperumubdur, Chennai and will focus on colour televisions and colour monitors in addition to other appliances for the local market.
The two sides signed a Memorandum of Understanding on Sunday.
The appointment of Singer Sri Lanka as our national distributor in this country, will give us an enhanced footprint in the country, Zutshi said.
Electronics and appliances distributor Singer Sri Lanka currently h