Samsung Electronics, which is the leading brand of LCD and plasma TVs in Russia, plans to build a large-scale TV factory near Moscow.
Samsung Electronics said on Sunday that it will construct a 195,000 square meter television factory in Kaluga, 85 kilometer southwest of Moscow with an investment of $57 million. Construction is scheduled to start next month and finish by October 2008.
Production is aimed at 2.2 million units annually by 2010. Lee Don-joo, executive director in charge of CIS (Commonwealth of Independent States) at Samsung Electronics’ Russia unit, said, „Samsung has decided on the investment to meet the rapidly increasing demand for digital TVs in Russia and the CIS region.” Samsung has a 20.7% market share for LCD TVs in Russia, and a 22.9% market share for plasma TVs, as of April.
The company is currently the leading player in the Russian digital TV market, followed by Philips with 20.5% market share and LG Electronics with 21.8%. The Russian plant will be Samsung’s ninth television factory, following plants in Korea, Mexico, China, Slovakia, Hungary, Thailand, Indonesia and Brazil. (english.chosun.com)