"We are planning to set up our second plant in India in the south. Nothing has been finalised as yet but we are in the advanced stages of negotiations with Andhra Pradesh and Tamil Nadu in this regard," Ravinder Zutshi, deputy managing director of Samsung India, said on the sidelines of the launch of company's 'Eye Fresh Technology' monitors in Hyderabad on Tuesday.
Zutshi declined to comment on the investment that the plant would take. So far, the company has invested $150 million in India. A further investment of $20 million has been planned this year for expanding capacity, launching new products and expanding the market reach.
Samsung has a plant in Noida, which manufactures televisions, monitors, refrigerators and washing machines.
The manufacturing capacity for LCD monitors is being doubled from 2.5 lakh units per annum to 5 lakh units per annum this year. The company expects its LCD monitors to contribute 20% by volume and 35% by value to its total monitor sales this year.
Samsung India has also announced the launch of its ultra-wide screen (19-inch) format LCD monitor, and plans to launch monitors in 20-inch and 21-inch screen sizes in the third quarter of this year.
While the EFT monitors come at a price of Rs 4,500 and Rs 5,500 for sizes of 15-inch and 17-inch respectively, the 19-inch LCD monitor comes with a price tag of Rs 18,000.
The company is eyeing a growth rate of 20 per cent this year. "The IT division will contribute 20-25 per cent of this year's business," Zutshi said.
