Samsung is slowly catching up by launching more affordable devices. (Representative)
Samsung Electronics Co has started making its fold and flip smartphones as well as its latest Galaxy S23 flagship in India, turning its attention to a key growth market where Chinese devices have eaten into its sales.
The South Korean giant’s Indian unit earlier imported some of its premium flip and fold devices into the world’s second-largest smartphone market, but is now assembling its entire phone portfolio locally, according to Samsung’s mobile business in the country. chief Raju Pullan said in an interview on Monday.
“This is also based on our strong commitment to develop the India market,” Mr Pullan said, declining to comment on whether locally assembled flagship devices would cost less than imported ones.
Global smartphone leader Samsung is facing stiff competition from Chinese rivals in the Indian market, which has cost-conscious buyers. According to research firm Canalys, China’s Xiaomi Corp was India’s biggest smartphone vendor with 20% market share in 2022, while Samsung was second with 19%.
Over the years, low prices, big batteries and marketing blitzes based on cricket and Bollywood have helped Chinese device makers outpace Samsung.
Mr. Pullen said Samsung has been slow to learn but is slowly helping by launching more affordable devices, tying up with banks for credit card offers and launching a consumer credit program that has set a goal of $100 million in 2022. Helped sell 1 billion worth of devices.
Like rival Apple Inc, Samsung is also participating in Prime Minister Narendra Modi’s manufacturing drive aimed at turning India into an export hub. Still, Samsung has struggled to collect some of the financial incentives it sought from the Modi administration, even as manufacturers including Apple supplier Foxconn Technology Group have made strides with their claims.
Mr Pullan said Samsung, which unveiled its latest iPhone-rival Galaxy S23 line last week, received orders for about 140,000 units worth about 14 billion rupees ($169 million) in India in the 24 hours after its launch. This is more than double the orders Samsung received for the previous generation of Galaxy devices on the first day.
The company is increasing the number of stores where it sells Galaxy devices and investing more in sales and marketing, Mr. Pullen said, without giving details. TM Roh, president of Samsung’s smartphone business, said in a separate interview last month that Samsung has set up an India-focused mobile research center and is building a production base in the country.
“India is an important market that we want to get back into,” Mr. Roh said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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