Just when it was time for Samsung to drop its brand new Galaxy S10, which is said to be nothing less than a revelation, the tech-giant made another entry in the smartphone market.
Offering the users a phone which would not cost top dollar, Samsung strategically used the current buzz around it, and launched three new M-series budget phones in India. Contending its Chinese rivals, who are spot on with their product pricing, Samsung made an assenting move to the Indian market.
The company looks forward to defeat its Chinese counterparts in their niche, and sell budget-friendly handsets. It is planning to double its online sales figures by selling products on its official website, and Amazon India.
“The M-series has been built, and incepted around Indian millennial consumers,” said Asim Warsi, adding that the phones will be marketed out globally after launching it in India. The first budget M-series of smartphones is expected to release on January 28, 2019.
With the launch of its Galaxy S10 and S10+ inching near, the addition of M-series would bring in double-digit revenue, as expected by the company.
However, one thing common in Samsung’s mobile phone (whether priced less than 10,000 or at higher price range) is the extended battery life.
Consumers can expect to have a unique user experience, irrespective of the price they pay for their handsets. Its strategy of capturing diverse Indian segment has helped Samsung cater the market better.
Samsung’s target Indian market falls into two categories: highly elastic (middle class) which is price sensitive, and highly inelastic (upper class) which is price insensitive. Samsung has capitalized both the segments through differently priced products, which will help fund greater revenues.
Samsung’s mobile phone sales in India touched Rs 373.5 billion ($5.3 billion) in the 12 months to end-March 2018, according to regulatory filings sourced by Paper.vc, a business intelligence platform.
Sealing the deal for its expansion in the Indian region, Samsung opened world’s biggest phone manufacturing plant in the NCR region. It also set up its biggest store yet, in Bengaluru.
In a region, which is home to more than a billion, and where approximately 350 million users do not use a smartphone, Samsung expects to make a fortune by targeting large audience.