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Samsung Australia has reported a $153 Million dollar fall in revenue in 2010 with profits going from $24.2 Million in 2009 to $21 Million in 2010.
Overall revenue for Samsung Australia in 2010 was $1.5 Billion, which was almost double the $800 Million that arch rival LG Electronics achieved.
According to documents lodged with the Australian Competition & Consumer Commission Samsung spent over $60 Million on Advertising and Marketing in 2010 in an effort to build their brand in Australia.
In coming weeks the Company who has had a lot of success selling Smartphones is set to launch their new 10″ Galaxy Tab backed by a multimillion dollar advertising campaign.
Currently marketing their new Smart TV offering Samsung in 2010 expanded their IT offering introducing new notebooks, monitors and storage.
The biggest decline in revenues are said to have occurred in the TV and appliances market.
Earlier this year Samsung Australia executives said that they were relying on TV connectivity and sharing between its Smart TVs, PCs, PC monitors as well as expanded sales of Galaxy tablets and smartphones to lift flagging sales in 2011.
According to Lambro Skropidis Head of Marketing at Samsung Australia the company has a “strong” Smart TV offering this year which will drive sales in 2011.
“There are smart TVs and Smart TVs. What we will deliver is an exciting offering consisting of applications and connectivity, he said prior to his confrontational court case with LG Electronics over passive 3D TV technology and the active shutter technology offered by Samsung.
He said that the new Samsung range is offering consumers a wide variety of apps either embedded on the set when purchased or available after purchase through Samsung’s Apps store. A classic example is the Big Pond Movie service which will also give Samsung TV owners access to 30 Foxtel Channels.
Meanwhile LG Electronics is spending millions on primetime TV promoting their Cinema 3D after Samsung Australia who last year captured 50% of the 3D TV market saw a slump in 3D TV sales in the second half of the year.
