Samsung aims to make $1 billion in online smartphone sales in India
Samsung launched the online-exclusive Galaxy M series in India earlier this year in a bid to take on the competition from Chinese rivals in the budget segment. And it now appears to be reaping the benefits. The devices, which include the Galaxy M10, M20, and the M30, have sold over 2 million units since launch. A fourth member of the series, the Galaxy M40, is launching on June 11.
Samsung targeting $1 billion in online sales in India
Samsung lost the crown of India’s largest smartphone vendor to Xiaomi last year, mostly because of poor sales of its budget phones. The company reshuffled the portfolio this year and launched the new online-exclusive Galaxy M series. It has since been selling well, giving Samsung hopes of doubling its online smartphone sales in the country. The South Korean tech giant is aiming to generate $1 billion in online sales in India this year.
Samsung also revamped the Galaxy A series, which sells offline as well, to launch several new aggressively priced smartphones. And these device are doing even better. The company sold 5 million units of the new Galaxy A phones within 70 days of launch, generating well over $1 billion in sales. Samsung plans to make Galaxy A the biggest smartphone brand in India.
Samsung is also planning to expand local production in India. It is mulling a ₹2,500 crore (~$360 million) investment in the country to set up two new production plants for local manufacturing of smartphone displays and batteries.