Samsung expects 5G to push sales

NEW DELHI: Samsung expects nearly 75% of its India smartphone sales to come from 5G devices, as demand for sophisticated devices will increase, following expansion of high-speed telecom network across the country.
The company, which competes with top Chinese makers such as Xiaomi and Vivo, apart from traditional US rival Apple, hopes sales to grow by over 20% this year, faster than what it did in 2022. This despite the sluggishness noticed in the broader industry following the cooling off of demand and economic uncertainties.
“We are starting early with our 5G launches for thisyear, and are confident to grow stronger than what we did last year,” Raju Pullan, senior VP in-charge of Samsung’s India mobile phones business, told TOI.
The company topped local smartphone market in volumes in fourth quarter of 2022 according to numbers released by analyst firm Canalys. It intends to make stronger investments for newer devices, apart from gaining from finance partnerships through its ‘Samsung Finance’ consumer platform.
“We are recording almost 4 lakh transactions through the Samsung Finance platform. While 60% of the devices are estimated to be sold through financing, the share of Samsung Finance in this is around 80%,” Pullan said.
Pullan said that Samsung intends to pace up the launch of 5G models, in line with the broader industry trend. Rivals such as Xiaomi and Vivo have also been hurrying 5G device launches as telecom companies Reliance Jio and Bharti Airtel spread their networks.
Pullan said that negatives such as rising interest rates as well as inflation have not had much impact on consumer demand. “We’ve not seen much pressure as far as demand is concerned. The indications that we are getting is that sellouts will be much more robust than last year. ”

#Samsung #expects #push #sales

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button