New Delhi: South Korean phone company Samsung Electronic Co. has started assembling its fold and flip smartphones and the latest Galaxy S23 flagship in India. It has not been revealed whether the locally assembled flagship devices will be priced lower than the imported ones.
The Indian unit has previously imported premium flip and fold devices to the country. The head of Samsung's mobile business in India Raju Pullan told NDTV that the entire phone portfolio is now being assembled locally in India. The move is part of building a strong commitment to the growing market. India is the world's second-biggest smartphone market.
Samsung is one of the two leading smartphone companies in the world but in recent years, faced tough competition from Chinese companies in the Indian market. China's Xiaomi Corp. was India's biggest smartphone vendor in 2022 with a market share of 20%. Samsung followed close at 19% and is now determined to take back the lead. Cost-conscious shoppers in India have been choosing Chinese phones.
Pullan said Samsung has been learning the market trends and is launching more affordable devices. The company is also tying up with banks to provide credit card offers and rolling out a consumer credit programme. The strategy helped sell phones worth $1 billion in 2022.
Samsung unveiled its Galaxy S23 line last week and received orders for nearly 140,000 units which are worth Rs 14 billion within 24 hours, added Pullan. This is double the orders the company got for the previous generation of Galaxy devices on the first day. He further said the number of stores in India will also be increased and sales and marketing will be given more focus. Samsung has also set up an India-focused mobile research centre.