Business

Samsung may dial in 40% smarphone sales growth

Samsung India expects to clock a 40% year-on-year growth in value terms in its smartphone business during the current quarter, driven by consumers opting for ‘higher tech’ products as well as demand from first- time buyers.

“We’re really excited for Q4, 2020,” said Samsung India senior vice-president Asim Warsi in an interview.

“We have built up for 40% growth year-on-year in this quarter over Q4, 2019, in terms of value. We have virtually revamped our portfolio for this quarter and have launched a slew of smartphones, tablets, wearable devices besides the luxury segment’s Samsung Galaxy Fold 2,” he added.

He pointed out Samsung now offered smartphones from ₹4,999 to ₹1.5 lakh.

“Our industry is not exempt from what happened in the first half of the year... the first half having gone the way it did. In the second half, we have broadly seen two phases,” he said.

“One phase was the early part of the unlockdown where there was a fair amount of pent-up demand and the second part, which is where we are now, the festive part,” he added. Overall, in the second half, they expected ‘a very strong, YoY double-digit growth.’

Mohandeep Singh, senior vice-president, mobile business said the demand was being driven by consumers wanting to graduate to better technology because they want to be better-enabled along with consumers who were becoming digitally-enabled for the first time.

This article is closed for comments.
Please Email the Editor

Printable version | Nov 30, 2020 5:11:12 AM | https://www.thehindu.com/business/samsung-may-dial-in-40-smarphone-sales-growth/article32985980.ece

Next Story