Samsung India eyes 40% biz growth with new smartphones, finance schemes

Korean group has lined up a dozen new smartphones--ranging from Rs 5,000 to Rs 150,000--to lure consumers in all segments.

Samsung India has decided to take the Chinese threat head-on this season. Toppled by China's Xiaomi three years ago, the Korean chaebol has affected an all-round plan to get its mojo back. Armed with a new product line-up, innovative consumer finance, discounting schemes, and a seamless omni-channel strategy, the brand has set an ambitious target of growing its sales by 40 per cent in the festive quarter over last year, two senior executives said.

“This is the most exciting quarter of the year, and we are aiming to grow by 40 per cent, year-on-year, in value terms. To achieve that, we have already set a range of activities in motion. Firstly, we have refreshed the entire mobility portfolio since July. And have put in place consumer platforms and campaigns that make Samsung products more affordable," said Asim Warsi, senior vice-president, Samsung India.

According to Warsi, while the lockdown impacted everybody in the first half of 2020, “the second half has been resurgent and buoyant". "We see this trend picking up further in the festive quarter," he said.

It has lined up a dozen new smartphones – ranging from Rs 5,000 to Rs 150,000 – to attract consumers from all segments. Its costliest offering – Galaxy Z Fold2 – has so far registered fourfold jump in orders. “Also, through Samsung Finance Plus, consumers can own any product within 20 minutes. Currently, a third of our devices are sold through the process," said Mohandeep Singh, senior vice-president-sales for Samsung Mobile.

Samsung’s renewed push to grab market share is not without a rationale. Analysts said it was placed at the most advanced position to capitalise on the anti-China sentiment that prevailed in the country’s electronics market. According to Counterpoint Research, during the July-September quarter, effective supply chain and offering various price points boosted its fortunes. Samsung’s aggressive push in online channels, with the highest ever online contribution within its portfolio, also helped. 

Counterpoint said Samsung dethroned Xiaomi after three years from the top spot, with 24 per cent market share. But another agency Canalys observed that Samsung (20 per cent) remained at the second position behind Xiaomi (26 per cent).