Samsung eyes 65% growth in its premium consumer electronics
Samsung has seen a strong growth in its consumer electronics business over the last three months with consumer sentiments riding high and is expecting the sale of its premium category of TVs and digital appliances to grow by over 65 per cent this festive season, a top company executive said on Wednesday.
The overall consumer electronics business for Samsung is expected to see a growth of 30 per cent this festive season as industries and businesses have opened up, rainfall has been adequate and positive vaccination efforts.
"Consumer sentiment is at an all-time high for festive buying. We saw strong uptick during Onam and Ganesh Chaturthi festivals already. Since the unlocking of markets, there has been an increased demand among consumers to equip their homes with the latest technology while they stay and work from home," said Raju Pullan, Senior Vice President, CE Business, Samsung India.
Samsung has seen a strong demand for premium products with QLED TVs growing 63 per cent, side by side refrigerators growing 100 per cent and front load washing machines growing 50 per cent in August.
"We planned for festive season way in advance to stay ahead of the curve and ensured that we are well stocked up and expanded our premium portfolio with launch of Neo QLED TV, The Frame TV, French Door Refrigerators, AI Ecobubble washing machines, WindFree ACs, etc., to cater to festive demand," Pullan added.
Pullan further added that unlike last year this year where the growth was skewed towards tier-2 markets, the brand this year has seen growth across metro cities and tier 2 and 3 markets.
Samsung has also announced 'Big TV Festival' for its 55-inch and above TVs and 'Home Like Never Before' offers for its refrigerators, washing machines, microwaves and ACs which allows consumers to get free sound bar worth up to Rs 1,04,900, up to 25 per cent cashback and EMIs starting as low as Rs 990.
Additionally, Samsung is also offering exciting deals on the ongoing Amazon Great Indian Festival and Flipkart Big Billion Days sales across its range of consumer durable products - IANS
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