GVK partners Samsung, Smithbridge for Oz project

Hyderabad: Hyderabad-based GVK Power & Infrastructure Ltd (GVKPIL) plans to tie up $10 billion of funds for its Australian pit-to-port project in a year's time.

With all approvals in place, the company has awarded a contract to Korea-based Samsung C&T and Smithbridge Group Pvt Ltd of Australia for the port component.

GVKPIL, through its subsidiary, Hancock Coal Infrastructure, is erecting the $10-billion project at Abbot Point in North Queensland. "We got all our approvals last week. From this week, we are starting our financing programme and construction contracts. The third quarter of the next calendar year will see financial closure and construction would start,” G V Sanjay Reddy, vice-chairman, GVKPIL, said. He did not give details of the financing.

The Terminal-III port is being built with an investment of $2 billion for the Alpha Coal project, involving onshore and offshore infrastructure.

HTC beats Samsung in American smartphone market with 24% Share

HTC edged out Samsung Electronics to become the largest smartphone vendor in the US, capitalising on the Android platform's popularity and a lull in demand for iPhones to overtake Apple and Research In Motion. A 10 percentage-point jump in share from a year earlier gave Taoyuan, Taiwan-based HTC 24% of the world's largest smartphone market in the third quarter, ahead of Samsung's 21%, Palo Alto, California-based researcher Canalys said in a statement on Tuesday. Apple fell to third at 20% while RIM, maker of the BlackBerry, had 9%. HTC, which made the world's first phone using Google's Android in 2008, benefited from strong relationships with US carriers and made different models for each operator. Apple's iPhone 4S and new devices from Suwon, South Korea-based Samsung may help the two global smartphone leaders gain share in the US this quarter as HTC forecasts its first shipment decline in almost two years. "Because iPhone 4S wasn't yet ready during the quarter, there was a window of opportunity for others, and HTC benefited from this," said Wang Wanli, who rates the stock "buy" at RBS Asia in Taipei. "HTC has historically done more customisation of handsets, which has made operators more willing to market and sell their devices." APPLE, SAMSUNG HTC sells its high-end models, which include faster processors and higher-quality cameras, for less than similar Samsung products, Wang said. Samsung offers more low-price models overall, bringing its average sales price below the Taiwanese company's, he said. HTC and Samsung benefited from the rising popularity of the Android operating system, while Cupertino, California-based Apple was affected by consumers awaiting the next iteration of the iPhone, Canalys said. Android has 44% of the US market for smartphones in use, Apple's iOS has 27%, and the BlackBerry OS 20%, Reston, Virginia-based Com-Score said earlier this month. Samsung and Apple are the two largest smartphone vendors globally, followed by Nokia, UK researcher Strategy Analytics said last week.

Samsung eyes $4.9 bn sales in India, launches 60 new items

NEW DELHI: Korean consumer durables major Samsung on Wednesday introduced 60 new products across all categories in India with an eye on achieving a 40 per cent jump in sales to $4.9 billion in the country by year-end.

The company also said it is expanding its portfolio across all categories with special focus on pushing products with more advanced technologies, such as smart TVs, 3D televisions, Blu-ray players and its Galaxy Tabs.

"We expect a growth of 40 per cent in sales this year in India. This will be over $3.5 billion, which we did last year," Samsung West Asia Operations President and CEO Jung Soo Shin told reporters here. The strategy for the region is to strengthen market leadership while identifying new opportunities, he added.

Samsung today introduced around 35 new models of television, expanding its 3D range. It also introduced advanced version of Galaxy Tab, which it is planning to introduce in June this year. Besides it has brought a new range of cameras, refrigerator and washing machine among others totaling to 60 new products.

"Definitely our focus will be on this smart categories across all our product range. We want to leverage on the smart technology and drive our growth in future," Samsung India Deputy Managing Director Ravinder Zutshi said.

With more products being introduced, Shin, who is also President and CEO of Samsung India, said the company "will establish an optimum distribution network and additional emphasize on our flagship products and customer marketing activities".

Asked about the company's budget on marketing the new range this year, Zutshi said every year Samsung India spends around 3-4 per cent of the total revenue various marketing initiatives.

"3-4 per cent of our revenue goes on marketing our products. We are already doing a lot of work on promoting our smart products in the electronics and appliances category. we will continue to do more," he said.