Samsung Thinks Big in the Indian Market

Samsung Electronics is intensifying forays into the world's second most populous nation India, aiming to expand sales there six times from $950 million last year to US$5.5 billion by 2010. The firm said Sunday it held a strategic meeting for the Indian market in Delhi on Friday, attended by vice chairman Yun Jong-yong, where ways of building a first-class brand image and product differentiation strategies to command premium prices were discussed. To achieve the $5.5 billion sales aim, Samsung decided to build a local handset factory and expand its sales networks for household appliances. India has continued to grow about 7 percent annually, and with that the electronics and IT sectors expand exponentially. “India is an important market that expects sustained economic growth and burgeoning middle and affluent classes. Samsung needs to make a second leap forward by harnessing all its business strengths,” Yun said.