The 10 billion yuan sales target, if achieved, will be a 70 percent increase over 2009 sales, which amounted to 5.88 billion yuan, a press release by the two companies said.

The two companies have cooperated for years. The agreement signed this year would make Samsung one of Suning's major partners along with Haier and Midea. It will also make Suning Appliance Samsung's second largest strategic partner, according to the press release.

To reach the target, both companies said they will work together to promote sales and explore new markets. Seniors managers of both companies have expressed confidence about reaching the target.