Samsung Electronics Co. clocked its best-ever Diwali pageant gross sales in India, after demand for shopper electronics held up nicely regardless of mounting inflation.
The Korean firm bought ₹14,000 crore ($ 1.7 billion) of smartphones within the roughly two months that comprise India’s most necessary buying season, typically an indicator of broader home consumption. Gross sales rose throughout fashions from the Flip and Fold to the flagship S22, Aditya Babbar, head of product advertising and marketing at Samsung’s India cellular enterprise, informed Bloomberg Information.
“This was our best-ever Diwali sale,” the chief mentioned, with out providing a comparability.
Apple gross sales by worth in the identical interval have been prone to have been just like Samsung’s, whereas others like Xiaomi Corp. and Vivo shouldn’t have been too far behind, mentioned Navkendar Singh of IDC India.
Samsung, as soon as the unmatched chief in India’s fledgling smartphone market, has grappled with stiffening competitors from Chinese language manufacturers resembling Xiaomi, Oppo and Vivo, who promote seven of each 10 units within the nation.
To regain floor, the Korean firm expanded a shopper credit score program it launched in India three years in the past, unveiled a bank card in partnership with a financial institution, and aggressively pushed gross sales through its personal on-line shops.
India’s smartphone shipments declined 11% within the September quarter, in line with tech researcher Counterpoint. However Samsung was the one model among the many high 5 to clock annual progress, the analysis agency mentioned.