Companies have now started looking for new ways to revive the demand that had slowed down due to rising phone prices. Samsung has also now made a big bet with the new foldable phone, according to Aditya Babbar, Vice President of MX Business of Samsung India, Samsung India hopes that the sales of smartphones will increase more than the industry level.
Aditya Babbar believes that the introduction of multiple financing schemes, which for the first time includes a 30-month EMI (Equated Monthly Installment) plan, will make it easier than ever for customers to purchase the device, that too at a time when smartphone prices are rising due to rising memory costs.
Samsung’s market share increased
He told Financial Express, we are working with many financiers and we think this will give more options to the customer. Aditya Babbar said that in the company’s portfolio, flagship phones, which are usually priced above Rs 45,000, are expected to grow by 20 per cent this year, he said in India. Samsung Its market share currently stands at 17.7 percent and has increased from the January-March quarter, when it was around 15.5 percent.
Biggest decline since 2020
According to data from Counterpoint Research, shipments in India’s smartphone market declined by 10 percent in the April-June period, which is the biggest decline in many years. Although vendors have launched many financing schemes for customers, the high price of the devices has reduced consumer demand. This decline is the biggest June-quarter decline in the market since 2020.
Aditya Babbar said that the company will offer many financing options to customers for foldable phones before the festive season. Competition is expected to increase in the foldable segment, Apple may launch a range of foldable devices in September and Google is the second big player in this category.
Read this also- Samsung Galaxy Z Fold 8 Ultra launched in India, priced at the price of an old car
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