Samsung aiming for sales of over $10 billion in India this year
India is a key market for Samsung and even though it’s under increasing pressure from the likes of Xiaomi, the company has been trying hard to hold on to its dominant position in the Indian market. The company’s total sales for 2017 reached nearly $9 billion in India and it wants to do better than that in 2018. Samsung is targeting sales of over $10 billion in the country this calendar year.
Smartphones will decide if Samsung achieves this goal
This was revealed by senior Samsung executives in discussions with business partners during a recent global meet. The company’s sales will be driven by its smartphones, premium TVs and home appliances such as washing machines and refrigerators. Samsung will be focusing on these products for the Indian market this year.
Samsung India is now confident that it will be able to exceed $10 billion in sales even though Xiaomi has been making life difficult for the Korean giant in the smartphone market. Smartphones are the largest sales contributor for Samsung in India as they account for 60 percent of all sales. The remaining 40 percent is generated by consumer electronics products.
This means that Samsung’s performance in the smartphone market will decide whether or not it’s able to achieve this goal. Samsung is revamping its strategy to take on Xiaomi in this lucrative market but it remains to be seen if the new strategy will deliver the kind of results that Samsung needs to keep its Chinese rival at bay.