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Samsung banks on premium electronics

NEW DELHI : Samsung willl double down on premium products to drive sales during the festival season this year, said a senior executive.

Speaking in an interview, Mohandeep Singh, senior vice president, consumer electronics business, said the company will offer “better value” to consumers through enhanced offers, both online and offline.This includes bundling premium Samsung smartphones, like the flagship Galaxy S22 series, with premium refrigerators, extended warranties on TVs, cashbacks, and EMIs.

“Premiumization as a trend is gaining momentum. Consumers want to upgrade but affordability is a barrier. We are enabling the consumer with these offers,” said Singh.

He forecast sales this festive season to jump 45% compared to last year with the premium segment posting an 80% increase. Samsung recorded similar growth during the Independence Day and Onam sales in August, he added.

“Consumers are buying premium products or larger capacity fridges, larger TV, high-end QLED TVs, and projectors. This trend gained momentum during the August sales. Premium TV grew by more than 100%, soundbars grew by 3x,” said Singh.

He also said that Samsung’s retail investments in India have “almost doubled” in the past year.

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