Strong showing for the Galaxy Z Fold 5 and Galaxy Z Flip 5 from tier-3 and tier-4 towns helped Samsung clock a record Rs 1,500 Crores in revenue, a top Samsung India executive told FE.
“We have recorded the highest ever 1,50,000 pre-bookings for the Galaxy Z Fold 5 and Galaxy Z Flip 5 which is 1.5 times over last year and almost Rs 1,500 crores in revenue,” said Aditya Babbar, senior director for Mobile Business, Samsung India.
Pre-bookings for the Galaxy Z Fold 5 and Galaxy Z Flip 5 opened on July 27 through August 17. Demand seems particularly high for the Flip 5 clamshell pulling about 50 percent consumers from non-Samsung devices which is “definitely” helping the brand recruit some new users into the Galaxy.
Also Read | India is critical for our success, working hard on affordable foldables: Samsung Mobile head TM Roh
Babbar attributes the success to a differentiated go-to-market (GTM) plan both with regards to the products themselves and sales coupled with custom financing options tailored-made for the consumer, which have seemingly come about after due deliberation. The brand has worked round-the-clock to increase awareness around these devices and make them more affordable.
The numbers speak for themselves. Pre-booking data suggests “Bharat is growing faster than urban India” in terms of embracing the new products and Samsung expects the momentum to continue well into the festive season.
Babbar says that the Fold 5 is getting traction for its lighter, brighter display while the Flip 5 with its large cover screen and pocketability is finding significant takers among the under 35-year-old age group.
“In most cases, when buying a device, you can either do a trade-in or get a cashback or EMI. But we realised that the consumer wants more options. So, this year we did a Rs 8,000 upgrade plus a 24-month EMI and that has really helped us with Samsung Finance Plus to grow faster in the Bharat part of the country,” he adds.
Samsung also has a well-thought-out plan for after-sales with Samsung Care Plus that lets consumers get their Fold 5 or Flip 5 with water or breakage damage repaired “no questions asked” by paying an amount of Rs 12,000. The brand will, also, replace the surface film of these devices one time free of cost should they damage it.
Also Read | Why Samsung believes Galaxy Z Fold 5, Flip 5 will make foldables mainstream in India
Babbar believes that H2 2023 will be extremely bright with the market expected to grow at a healthy double digit and Samsung wants to grow faster than the market.
“The flagship market is showing extremely good signs. Even after the launch of [these] foldables, we are going extremely strong on our Galaxy S-series. And we are very confident that we will continue this momentum to Diwali,” he says, adding that “We are working on what will be the best plans for the consumer for the festive seasons.”
Samsung aims to capture over 50 percent market share in the super-premium ($1000 or higher) segment in India with its new batch of foldables and if the initial numbers are anything to go by, the Fold 5 and Flip 5 are off to a blazing start. The Fold 5 price in India starts at Rs 1,54,999. The Flip 5 starts at Rs 99,999.
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