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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

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