Samsung India targets 65% growth in high-end consumer electronics

Despite losing ground to Chinese brands in the smartphone market, Samsung India continues to dominate the larger consumer electronics market. Its constant barrage of deals and promotions for coveted products such as high-end smart TVs have attracted a lot of users in the premium segment.

Samsung India says that it is targeting a 65% growth in sales this time around, according to a new report. The figure might seem steep, but it is achievable once India’s festive season kicks off later this week.

Samsung sees great potential in India’s consumer electronics market

Festivals such as Diwali often drive sales and that’s when most of the sales will likely happen. Raju Pullan, Senior Vice President of Samsung India’s consumer electronics division had the following to say:

“Consumer sentiment is at an all-time high for festive buying. We saw strong uptick during Onam and Ganesh Chaturthi festivals already. Since the unlocking of markets, there has been an increased demand among consumers to equip their homes with the latest technology while they stay and work from home.”

The next two months will determine if Samsung hits the coveted 65% growth numbers. However, Samsung also needs to address its underlying supply issues to ensure that there are enough units to go around.

While it is largely uncontested in the premium segment, it faces stiff competition on the more affordable end of the spectrum. Hence, we can expect Samsung to offer a wide range of discounts across all price points.

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Categories: Business
Tags: Samsung ElectronicsSamsung India