Samsung to pump 0 mln in LCD mfg unit in Chennai

New Delhi, Apr 20 (UNI) Sensing a strong growth potential in southern India, the market leader in Flat Panel televisions Samsung India today announced it will set up an LCD manufacturing unit, entailing an investment of 100 million dollars, in Chennai in August this year.

The company plans to manufacture 2,00,000 units per year through this new unit.

''The market in south India is growing by leaps and bounds, so we are planning to open an LCD manufacturing unit in Chennai and aims to produce 2,00,000 units every year,'' Samsung India Director (Sales) Pradeep Tognatta said.

The Chennai unit is also expected to produce different kinds of electrical gadgets like panels, monitors and many others.

The company started its Flat Panel TV manufacturing unit in Noida in June 2006.

''The Flat Panel TVs will contribute 11 per cent by volume to the total TV sales of the company this year and we are optimistic that the growth will soar to 30 per cent in another two years,'' Mr Tognatta said.

The Flat Panel television market in the country is expected to come close to 4,00,000 units this fiscal.

Samsung, the digital technology leader, aims at a 50 per cent market share in the Flat Panel category this year.

Samsung India is a wholly-owned susidiary of Samsung Electronics Co Ltd (SEC).

UNI