Samsung Sets Ambitious Target: Aims to Secure 50% of India’s Super Premium Smartphone Market with Galaxy Fold 5 and Galaxy Flip 5

Samsung Sets Ambitious Target: Aims to Secure 50% of India’s Super Premium Smartphone Market with Galaxy Fold 5 and Galaxy Flip 5

Samsung is setting ambitious targets for its latest foldable smartphones, the Galaxy Fold 5 and Galaxy Flip 5, in the Indian market. The company aims to capture 50 percent of the super premium smartphone segment, which includes devices priced above USD 1,000 (approximately ₹82,000). Currently, this segment is dominated by Apple, the maker of iPhones.

T M Roh, the President and Head of Mobile eXperience Business at Samsung Electronics, is confident that the introduction of the Galaxy Fold 5 and Galaxy Flip 5 will help the company increase its market share from the current 35 percent to 50 percent in the super premium segment. These foldable devices offer innovative features and cutting-edge technology, making them stand out in the competitive market.

By targeting the high-end segment of the market with premium foldable smartphones, Samsung aims to attract tech-savvy consumers who seek top-of-the-line devices with advanced functionalities. The Galaxy Fold 5 offers a unique foldable design with a large display, while the Galaxy Flip 5 provides a compact and stylish flip phone experience, catering to different preferences and usage scenarios.

To achieve its goal, Samsung will likely focus on aggressive marketing strategies, strong distribution channels, and attractive offers to entice potential buyers. By positioning itself as a formidable competitor to Apple in the super premium smartphone segment, Samsung seeks to strengthen its position as a leading player in the Indian smartphone market and cater to the growing demand for premium devices.

T M Roh, President and Head of Mobile experience Business at Samsung Electronics, revealed that in the super premium smartphone segment, Samsung’s foldable devices currently hold approximately 35 percent market share in the entire Indian market. With the introduction of the Galaxy Fold 5 and Galaxy Flip 5, the company aims to further increase its market share in the super premium segment and target over 50 percent of the market share for devices priced at USD 1,000 or higher in India.

The Galaxy Fold 5 and Galaxy Flip 5 are expected to play a crucial role in achieving this goal, as these innovative foldable smartphones offer unique and premium features that set them apart from traditional smartphones. By offering consumers the option to experience cutting-edge technology with foldable displays, Samsung aims to appeal to discerning buyers who seek top-tier devices with advanced capabilities.

To attain its target market share, Samsung may adopt a strategic approach that involves aggressive marketing campaigns, attractive pricing, and strong retail presence. The company will likely leverage its brand reputation and technological prowess to position the Galaxy Fold 5 and Galaxy Flip 5 as aspirational devices in the super premium segment.

According to Counterpoint Research’s data for the first quarter of 2023, Samsung maintained its leadership in the overall smartphone market in India, capturing a 20 percent market share. The company’s impressive performance was particularly notable in the ultra-premium category, which includes smartphones priced above ₹45,000. In this segment, Samsung experienced a remarkable year-over-year growth of 247 percent, indicating a strong demand for its high-end offerings.

However, despite Samsung’s notable growth in the ultra-premium category, Apple continued to dominate this segment with an impressive 62 percent market share. Apple’s stronghold in the super premium segment is a testament to the brand’s loyal customer base and its ability to consistently offer high-quality and premium devices that resonate with Indian consumers.

T M Roh, President of Samsung’s Mobile eXperience Business, emphasized the changing dynamics of the Indian smartphone market, stating that India has become more sensitive, open, and receptive to innovation. Consumers in India are now more eager to embrace cutting-edge technologies and innovative features, driving a significant surge in demand for high-end premium products.

In line with this trend, Samsung is set to launch its latest foldable smartphones, the Galaxy Fold 5 and Galaxy Flip 5, in the Indian market. These premium devices are aimed at catering to the growing demand for high-end smartphones in the country. The Galaxy Fold 5 is expected to be priced between ₹1.54 lakh and ₹1.85 lakh, offering different storage capacities ranging from 256 GB to 1 TB. On the other hand, the Samsung Galaxy Flip 5 will be available in the price range of ₹99,999 and ₹1,09,999, providing consumers with a variety of options to choose from based on their preferences and needs.

The launch of these premium devices is scheduled for August 18th, and Samsung is optimistic that they will help the company further penetrate the super premium smartphone segment in India. With its foldable offerings, Samsung aims to capture over 50 percent of the super premium market share, up from its current 35 percent. The Galaxy Fold 5 and Galaxy Flip 5 are expected to appeal to tech enthusiasts and luxury-seeking consumers who are willing to invest in high-end smartphones that offer unique and innovative features.

As Samsung continues to focus on innovation and cater to the evolving preferences of Indian consumers, the launch of these premium devices is likely to create a buzz in the market and intensify the competition in the super premium segment.

Apart from the Galaxy Fold 5 and Galaxy Flip 5, Samsung has plans to launch other premium products in India as well. The Galaxy Tab S9 series, which includes high-end tablets, will be priced between ₹72,999 and ₹1,33,999 per unit. Additionally, the Galaxy Watch 6 series, comprising advanced smartwatches, will be available starting at ₹29,999. These new product launches are part of Samsung’s strategy to cater to the growing demand for premium and high-end devices in the Indian market.

T M Roh, President of Samsung’s Mobile eXperience Business, acknowledged that the global smartphone market is recovering, and there are expectations of growth in the second half of the year. While the pace of recovery may not be as fast as hoped, the premium and high-end segments have shown solid demand. As a result, Samsung is optimistic about the growth potential in these segments going into the second half of the year.

The company’s focus on introducing innovative and premium devices aligns with the changing consumer preferences in India. With consumers becoming more receptive to cutting-edge technologies and high-end features, Samsung’s new lineup of products is poised to capture the attention of tech-savvy and luxury-seeking customers.