Samsung India hopes to continue growing its smartphone sales at above-industry levels in a market that is de-growing, according to Aditya Babbar, Vice President, MX Business, Samsung India.
Babbar believes the introduction of several financing schemes, including a 30-month EMI (equated monthly installment) plan for the first time, will make devices more affordable for customers at a time when rising memory prices have been driving up smartphone costs.
“We are working with several financiers and we feel that will provide consumers with more options,” he told FE. New-to-credit customers, he said, would benefit from the higher number of partnerships that Samsung has with lenders.
Within the company’s portfolio, flagship phones, which typically cost more than Rs 45,000, are expected to report a 20% growth this year, Babbar said. Samsung’s market share in India is currently 17.7%, he said, adding that it had increased since the January-March quarter, when it was close to 15.5%.
Shipments in India’s smartphone market recorded a 10% decline in the April-June period, the sharpest fall in many years, according to data from Counterpoint Research. Although vendors have rolled out several financing schemes for customers, the high cost of devices has crimped consumer demand. The drop marks the biggest June-quarter contraction the market has seen since 2020.
Babbar said the company will offer consumers several financing options for foldable phones ahead of the festive season. Competition in the foldable segment is expected to heat up, with Apple expected to roll out a range of foldable devices in September. Google is the other player in this category.
Samsung is also strengthening its distribution presence, especially in Tier-II, Tier-III and Tier-IV towns, where sales volumes have been stronger than in many metro markets. The company currently has 10,000 retail outlets. Babbar said newer features, including those powered by artificial intelligence (AI), will be highlighted at these outlets. Sales of second-hand phones, too, have been brisk, according to Babbar.
Samsung on Wednesday unveiled its eighth generation of foldable phones–the new Galaxy Z series, a complete lineup designed to expand the foldable smartphone segment. The suite introduces the Galaxy Z Fold8, featuring a fresh form factor, and also includes the Galaxy Z Fold8 Ultra, which brings Galaxy’s Ultra standard to foldables, enabling greater productivity and content creation in a larger workspace. Samsung has incorporated AI features, including Gemini Intelligence, to ensure consumers have greater transparency and privacy.
The writer is in London at the invitation of Samsung
