Samsung aims to grab 50% of India's super premium smartphone market with Galaxy Fold 5 and Galaxy Flip 5
foldable smartphones, the Galaxy Fold 5 and Galaxy Flip 5, will help the company to secure 50 per cent of the super premium smartphone segment in India, reported PTI. Presently, this market is dominated by Apple, the maker of iPhones. The super premium smartphone segment consists of devices priced above USD 1,000 (approximately ₹82,000).
As per PTI, Samsung Electronics' president and head of Mobile eXperience Business, T M Roh believes that the company's objective is to raise its current market share from 35 per cent to 50 per cent in the super premium segment through the introduction of the Galaxy Fold 5 and Galaxy Flip 5. "In the super premium segment, the Samsung foldable has about 35 per cent market share in the entire Indian market. And then now with the launch of Fold 5 and Flip 5, we are now targeting over 50 per cent in the USD-1,000 or higher super premium segment in India," Roh added.
As per Counterpoint Research, during the first quarter of 2023, Samsung held the top position in the overall India market with a market share of 20 per cent. In the ultra-premium category, which includes devices priced above ₹45,000 each, Samsung experienced a remarkable year-over-year growth of 247 per cent. However, Apple continued to lead the ultra-premium segment with a dominant market share of 62 per cent.
Roh mentioned that India was previously highly sensitive to innovation; however, it has now become more open and receptive to innovative products, resulting in a significant surge in demand for high-end smartphones. "Now the India market is sensitive to innovation. It's also very open and receptive to innovation.
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