BOASTING a legacy of more than 28 years in the Indian consumer electronics landscape, Samsung keeps a keen ear to the ground and a finger on the pulse of evolving consumer trends, emerging as a beacon of innovation and navigating the waves of change.
As the company continues to chart new horizons and alter the contours of the Indian smartphone market, one thing remains constant — Samsung India’s symphony of innovation and consumer-centricity, which is enriching lives as well as shaping the future of technology in India and beyond.
The company recorded a revenue of Rs 70,292 crore in FY23. Looking ahead, Samsung India aims to achieve Rs 80,000 crore in mobile sales in FY24, fuelled by a strategy centred around premiumisation and rising average selling price. “We have started 2024 with a lot of new innovations for the consumer,” says Aditya Babbar, VP - MX Business at Samsung India.
THE ‘3D STRATEGY’ As per CyberMedia Research (CMR) estimates, the Indian smartphone market witnessed a 19 per cent year-over-year growth, with 5G smartphone shipments constituting 65 per cent of the market share, marking a 122 per cent increase.
Identifying key trends shaping the market, Babbar highlights the growing adoption of 5G technology and the shift towards premiumisation. “A larger portion of consumers are moving and migrating to 5G,” he states, adding, “At the same time, premiumisation has been getting built for the consumers and we have been at the forefront driving premiumisation in the market.”
This story is from the April 20, 2024 edition of BW Businessworld.
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This story is from the April 20, 2024 edition of BW Businessworld.
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