While the budget smartphone market seems to be dominated by Chinese brands like Xiaomi, Realme, Oppo, Vivo and others, Samsung has continued to be the only non-Chinese consumer electronics giant in India that offers products across all price points. If you go by social media trends, you may think that Samsung is a premium brand and it is unable to compete with its Chinese rivals. But that story is a bit different from reality.
In order to tackle the pressure from Chinese brands, Samsung had introduced its M series of Galaxy smartphones in India in 2019. The Galaxy M series caters to the mid-range segment and promises users to offer a reliable alternative from a big brand. This strategy has worked for Samsung despite criticisms like Samsung affordable smartphones are not as competitive when compared to phones from Chinese counterparts. Having said that, data says otherwise.
Also read: Samsung Has A New Plan To Win The Indian 5G Smartphone Market In 2022
According to the latest report by Counterpoint Research, Samsung has 42 million Galaxy M series smartphone users in India. While the company is now launching a mix of 4G and 5G-enabled smartphones in the budget segment, Samsung is eyeing to convert the Galaxy M series into $1 billion brand.
Aditya Babbar, Senior Director & Head of Marketing, Samsung India in an interaction with Debashis Sarkar of News18 Tech said, “I am extremely happy to share that we have 42 million happy M series consumers in India since we launched the M series in 2019.”
Sharing his future targets, Babbar said, “The other big thing is we have set ourselves a target of USD 1 billion in revenue from the Galaxy M series this year (CY2022). Overall, the M series will be a very powerful series.”
Samsung is gearing up to flex its brand muscle as the 5G smartphone market expands in India. While Samsung has smartphones across all price points– be it under Rs 10,000 or above Rs 1 lakh– Samsung had earlier said that it is eyeing to grab 40% share in the smartphone market between Rs 20,000 and Rs 45,000 in 2022.
“In H1, 2022, Samsung has grown at over 20% (value terms over H1, 2021) – This has happened on account of three very important factors. First was the extremely successful launch of the S series. Two, extremely successful A series and third, the M series – Galaxy M33 and M53 – have performed well,” added Babbar.
Samsung just launched its affordable Galaxy M13 series to offer 5G and 4G smartphone options in the under Rs 15,000 segment. “ We are even more confident with the Galaxy M 13 coming into the market. To give you an estimate, in the price point of Rs 10,000 to Rs 40,000, where Galaxy M series is present, this year (Jan-May, 2022) our value market share has gone up to 26.9% from 21.4% last year (2021),” he mentioned.
Read all the Latest News, Breaking News, watch Top Videos and Live TV here.
Comments
0 comment