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The Korea Herald
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THE INVESTOR
March 29, 2024

Samsung

Samsung’s refrigerators market share tops 30% in India

  • PUBLISHED :March 03, 2017 - 13:52
  • UPDATED :March 03, 2017 - 13:52
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[THE INVESTOR] Samsung Electronics share of the Indian refrigerator market rose to a record high of more than 30 percent last year, according to the Korea International Trade Association on March 3.

Samsung’s share of the Indian market stood at 30.7 percent at the end of 2016, marking double-digit growth for the second consecutive year. Last month, Samsung‘s Indian unit began selling a new line of refrigerators and air conditioners that are tailormade for Indian conditions.

The new refrigerators, which run on solar power, feature a technology that helps reach the target temperature in 31 percent shorter time, Samsung said in a previous statement.

Samsung has started work to double the production capacity at its plant in Noida, northern India. Samsung and the Indian state of Uttar Pradesh signed a memorandum of understanding in October last year. The agreement calls for Samsung to spend about 340 billion won (US$295.70 million) to expand the production capacity at the Noida plant.

(theinvestor@heraldcorp.com)

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