After winning back the Indian market in the smartphone segment, South Korean company Samsung is bringing varied changes in its strategy.
The company is bringing a whole new perspective the way it sees the market. It plans to focus on innovation in mid-price phones, which is also the largest selling category in phones, 5G technology and Internet of Things (IoT) to drive the next phase of growth for the company.
According to Samsung mobile chief DJ Koh, the company is quite dominant and strong in the flagships models. However, mid and mass segment has a strict competition as several Chinese brands tussle for gaining market share. It wants to go deeper into aforementioned segments.
Samsung grabbed almost half of the market share in first half of 2018. It ruled the premium market (Rs 30,000 and above) with around 48 percent market share.
Koh plans to blur the difference between flagships models and the mid-and-mass segment with new products which will be differentiated in features, functions and technologies, regardless of whether (these are) flagship or not.
The company is also waiting for the introduction of 5G technology in India when it will turn its focus towards IoT.
It’s also engaged with the government and partners in India in areas like smart cities, education and healthcare.
Over the past couple of years, there is intense competition in the Indian smartphone market with various companies vying to grab the largest pie. Xiaomi has been chasing Samsung very closely and even surpassed Samsung numbers and emerged as largest smartphone seller during quarter ending September.
Regaining top slot, Samsung claimed 29 per cent market share compared to the 28 per cent held by Xiaomi during quarter ending June, according to data from Counterpoint Research.
Experts say that Samsung has recently overhauled the inventory to make itself more competitive in the market, especially in the low and mid-range category. Besides, it is also focusing on the other aspect of the business–marketing.
The development was first reported by Mint.