Samsung saw 50% growth in premium electronics biz in India in October

The company said that overall, it saw a 32% growth in consumer electronics business.
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Riding on increased sales in the smaller towns and cities during the festive season, Samsung on Thursday said it achieved an overall 32% growth in its consumer electronics business in the month of October and a huge 50% growth in the premium electronics categories in India.

In the months of August and September, the company had achieved an overall 20% growth in the consumer electronics segment in the country. "This has been the best October ever for us, as consumers across the spectrum looked to upgrade their lives especially in the tier 2 and tier 3 cities. The demand is shifting towards premium electronics products and the growth in that segment is a clear signal," Raju Pullan, Senior Vice President, Consumer Electronics Business, Samsung India, told IANS.

When it comes to the small-town India, Samsung registered overall 36% growth in its consumer electronics business and 68% over all in the premium categories -- much higher than the national average.

In the TV (UHD) category, the company logged 72% growth in tier 2 and 3 cities while for TV (QLED 65 inch and above), there was a massive 105% growth in smaller cities.

"The rise of the OTT platforms has led to a greater consumption of content and people now want to enjoy an immersive, bigger experience in the country," Pullan said.

In the small-town India, refrigerators (frost free 350 and above) segment saw a 70% growth while the refrigerators (side by side) saw a huge 100% jump.]

The washing machines (front load) vertical witnessed 52% growth in smaller cities and towns.

"We have tried to make all our retail touch points as safe as possible for our consumers. Our ground staff have been given additional training to follow all safety procedures in the small towns," Pullan informed.

Samsung set up a helpline for over 1,200 partners in small towns to address any query they have on product specifications, as there was a surge in consumers buying premium products in smaller towns.

The company last month readied neighbourhood retail stores across 1,000 cities in the country for the festive season, where a new finance scheme that allowed consumers to buy up to four products and pay just one combined EMI.

In the TV vertical (nationwide), the company registered 32% growth. The premium segment saw 50% growth while the 65-inch and above witnessed 80% growth.

"The refrigerators (overall) saw 31% and front-load washing machines stocked out in the month of October nation-wide," Pullan said.

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