According to the sources, Samsung electronics had a massive turnover of Rs 14,400 on its consumer electronics.
As observed in the market, Samsung’s is manufacturing and targeting every price segment in the market, which has helped it to increase its domination all around 22% of the market share. Samsung’s price-targeting strategy led them to an overall turnover of Rs 14,400 crores.
“Samsung had one of the best festive seasons this year. We recorded a turnover of Rs 14,400 crore in September and October,” Aditya Babbar, senior director and head of product marketing at Samsung.
“The company is hoping the continued momentum will sustain in the ongoing quarter on the back of its affordability schemes, This, say, market trackers, even as the market enters into a seasonal slump in demand,” he added.
Babbar further stated that 85% of Samsung’s handhelds are already supporting Bharti Airtel’s 5g and with few advancements and updates on the software will enable the compatibility of Reliance’s JIO by mid-November. Samsung is also a leading 5g smartphone company with an estimated 20 devices running the next-gen technology.
Samsung is also the fastest-growing brand among the top five brands in the premium segment, according to Counterpoint Research.
Research from Counterpoint remarks that Samsung electronics is amongst the top five mobile companies to grow 19% on a yearly basis.
According to Aditya Babbar, the Samsung Smartphone premium segment of over Rs 30,000 grew 99% year-over-year by October 2022. Growth in the premium segment was driven by the improved accessibility initiative the company implemented this year.
