June 01, 2010 (LBO) – Korean electronics maker Samsung said it was eyeing a 30 percent share in Sri Lanka’s growing flat panel television market with an intensified marketing drive as the overall domestic market is also set for higher growth. Samsung West Asia chief JungSoo Shin said his firm had market leadership status for flat panel TVs in 64 countries and was currently number two in Sri Lanka and wanted to move up to top position by the end of 2010.
“We were not present in full strength in the market,” he told reporters. “We will also establish a corporate office here.”
Samsung’s Sri Lanka country chief Shankar Narayan says the island’s television market is set to grow by 20 percent this year from flat or low growth last year.
Sri Lanka is recovering from an economic downturn last year and also a 30-year war which devastated the north and the east of the country.
“We are definitely targeting the north and east,” Narayan said. “We are setting up a distribution and service network there.”
Sri Lankan annual television sales are estimated at about 300,000 units. Hoon Seol, Samsung’s head of strategic planning and South Asia business says about 30 percent of the market is already flat screen in Sri Lanka. By the end o