Samsung targets India millennials with M series phones
It aims to win back customers in world's fastest-growing smartphone market with each priced below 20,000 rupees
Seoul
SAMSUNG Electronics Co unveiled a new range of inexpensive smartphones for India, seeking to win back customers in the world's fastest-growing smartphone market and regain ground lost to Xiaomi Corp and other Chinese rivals.
The three M series devices, all priced below 20,000 rupees (S$383) apiece, will launch on Feb 5 on the Samsung India online store as well as Amazon India, the South Korean manufacturer said. The cheapest of the range will sell for less than 10,000 rupees. The company will later take the devices to other markets.
"It's aimed squarely and entirely at millennials who form a third of India's 1.3 billion population and comprise half of the country's online shoppers," said Asim Warsi, senior vice-president at Samsung India.
As smartphone sales growth sputters in saturated Western markets, every smartphone maker from Apple Inc to Samsung and Xiaomi are looking to India to boost their fortunes. The world's second-most populous country is also the fastest-growing geography for sales. Yet, with only 24 per cent of Indians owning smartphones, there's plenty of room for capturing new customers.
"The battleground in India is the mid-tier and low-tier smartphone segment, which is huge," said Anshul Gupta, a Mumbai-based analyst at Gartner Inc. "Any vendor looking at volume, revenue or market share which aspires to be among the top five will have to operate in that segment."
Shares of Samsung fell 0.7 per cent in Seoul. The stock fell 24 per cent in 2018.
India is a fiercely competitive market. While price is a key factor, first-time smartphone buyers are also looking for value in terms of design and battery life. Cameras and their specs are an important consideration in selfie-crazy India. The M Series will sport a 5000mAH battery, at least two cameras (the top end of the M series has three) and 6.2 inch screen size. "It's a phone meant for entertainment, shopping, gaming and multi-tasking - all the things our research has discovered is important to millennials," Mr Warsi said.
Samsung's devices blanket the entire price spectrum in India. Its Samsung Galaxy Note 9 debuted in August at about 70,000 rupees, while its Galaxy J2 sells for less than a 10th of that, at 6,190 rupees. The company's other recent efforts in India include the construction of the world's largest smartphone factory just outside Delhi. Late last year, Samsung unveiled the world's largest experience centre for its devices in Bangalore, where it also has a research centre, its largest outside South Korea. BLOOMBERG
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
Swiss watch exports plunge as China and Hong Kong demand dries up
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself