Thai Samsung Electronics Co, the leading consumer electronics manufacturer and distributor, plans to spend 4 billion baht to increase the production capacity of its audio-visual and home appliances in Thailand next year.
The budget will be used to install new machines and moulds for its five main product lines: televisions, air conditioners, front-loading washing machines, two-door refrigerators and kitchen products. Thai Samsung did not disclose the additional production capacity but the new investment will create 500 to 1,000 new jobs at the company's factory in Si Racha district, Chon Buri.
Arnut Changtrakul, deputy managing director of Thai Samsung Electronics,said the new investment is a response to improving demand in both export and domestic markets, where sales of all electrical appliances have clearly risen since August.
"This is in line with the projection of GDP growth at 1.5% in the fourth quarter of this year and 3% to 4% in the first quarter of next year. Also, the US expects its GDP next year will rise by 3% to 3.5%next year," he said.
Samsung expects its domestic sales next year will rise by 50% to US$1.5 billion while export sales will rise to $1.6 billion from $1.3 billion this year.
The main products driving sales next year are expected to include LED TVs,computer notebooks, digital cameras,front-loading washing machines and airconditioners. For these products Samsung is currently ranked between No.2 and No.4 in the Thai market.
"Overall sales for Samsung here will reach 80 billion baht in 2010, up from 500 million baht since its inception in 1988. Next we aim to become the market leader for all product categories we produce here step-by-step," said Mr Arnut.
The company currently leads in 11 electrical product categories such as LED TVs, PDP TVs, side-by-side refrigerators and microwave ovens. It is expected to be No.1 in the Thai mobile phone market by the end of this year.
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