Korean electronics giant Samsung on Wednesday said it is targetting a sales turnover of Rs 5,273 crore (Rs 52.73 billion) in India in 2004, up by 42 per cent, and announced the launch of several consumer electronic products in the country to strengthen its digital products portfolio.

R Zutshi, director of Samsung India Electronics, told a news conference in Bangalore that it had achieved a sales turnover of Rs 3,708 crore (Rs 37.08 billion) in 2003, with consumer electronics (CE) and home appliances (HA) business showing a growth of 30 per cent.

The company aims to achieve the Rs 5,273 crore (Rs 52.73 billion) target with a strategy of selling high-end products; an enhanced digital products portfolio and a thrust on HA, officials said.

Samsung launched what it said was the biggest flat panel range in the country comprising plasma TVs, LCD TVs, LCD projection TVs and 100 hertz flat TVs with Samsung's patented DNIe technology in the Indian market.

It also launched digital camcorders and home theatre systems having its patented super digital sound master technology for auto sound calibration.

Samsung India said it attained a 47 per cent growth in its colour television business in 2003, selling 12.5 lakh (1.25 million) colour televisions in the domestic market, thereby exceeding the original target by 50,000 units.

The company sold 300,000 flat TVs in the Indian market in 2003 -- contributing 24 per cent to the total CTV volume --  and expects to increase this share to 38 per cent in the current calendar year.

Samsung has planned to add new direct cool and frost-free models in its refrigerator business in mid-2004, and is also entering the commercial AC segment by launching cassette type, ductable and package ACs in March, officials said.

The company said it achieved a growth of 50 per cent in refrigerators, 47 per cent in microwave ovens and washing machines and 63 per cent in ACs in 2003 and is targetting a 34 per cent growth in turnover in HA this year.

Zutshi said Samsung India planned to invest $15 million in India in 2004, including $5 million for research and development.

India is one of the top six priority markets globally for Samsung, he added.