Bullish about 2022 growth, premium market response good: Samsung

Bullish about 2022 growth, premium market response good: Samsung

Pune: The smartphone maker Samsung India said that while it is bullish about growth across all segments of the smartphone market in India over the rest of 2022, growth rates will be moderated over the same period in 2021, but not necessarily due to prevalent inflation.

The company’s business head for flagship and luxury smartphones, Akshay Gupta, was speaking in Pune during the launch of its Z Fold 4 and Z Flip 4 premium and luxury smartphones.

“We are bullish about H2 of 2022. In 2021, however, there was a lot of pent-up demand, as April-June was locked down due to the second wave of the pandemic. We expect the industry at large to grow at high-single digits, while we as a company expect to increase our sales in the high-10s. Despite factors such as inflation and reduction in disposable income, we have still seen a massive response to the smartphones that we just launched, including more than 50000 bookings in the matter of a few hours,” Gupta said, in an interaction with TOI.

Gupta added that affordability and access to capital are still the major issues regarding secondary and Tier-II/III cities and rural markets, with him adding that new age financing, like the one rolled out by the company, with zero downpayment and other solutions, being key to access larger markets.

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