Samsung eyes double digit growth in smartphone business
The Hindu
Mobile phone maker aspires to become market leader premium segment
Yuthika Bhargava
Samsung India is eyeing ‘strong double digit growth’ in its mobile business in 2022, driven by a focus on expansion of its premium segment offerings, including the recently introduced S-22 series and foldable phones, said Raju Pullan, senior VP at Samsung India.
“In 2020, the base was a smaller base; so in 2021, the industry saw a strong double-digit growth. We expect a strong double digit growth in the industry in 2022 as well, and Samsung is all poised to outpace industry growth,” he told The Hindu.
Mr. Pullan added that driving the expansion of the premium segment would play a pivotal role in achieving the target.
“Our clear objective is to become the market leader in the premium segment by the end of H1. The strategic vision for us is to drive the premium expansion through the S-series and the FE series. We would also look at the foldable series,” he said, adding that currently, foldable phones contribute to about 34% of the company’s overall premium sales in value terms.
He pointed out that more than two million consumers were actively using the S-Series and the Note series, and for the S22-series devices, the company had received more than 1,40,000 pre-bookings.
“We're seeing that the premium segment is the fastest and will continue to be the fastest-growing segment, especially for Samsung because of the platforms we have created such as Samsung finance plus or the Samsung upgrade programme… another lever is the consumer aspiration to move to 5G products. We are seeing very strong adoption of the 5G segment,” he said.