Samsung India Expects up to 35 Percent Revenue Growth This Year

0
54
Samsung

INTRO: In the wake of the coronavirus pandemic, Samsung started concentrating more on its online smartphone business. The company has launched several phones lately, especially within the Galaxy M series. In a recent interview with ET, Samsung India’s Senior VP Asim Warsi says the smartphone giant expects up to 35 percent growth in revenue from the web segment this year.

“We are aiming to achieve $3.5 billion gross merchandise value (GMV) for our M-series of smartphones since launch in 2019 to end 2020. We have reached the pre-COVID level of demand which is increasing and therefore the H2 will itself be a growth period for the industry over the last year. Samsung India Senior vice chairman Asim Warsi says But, it’s still not enough to form full-year positive,”

However, Samsung isn’t drastically shifting its focus faraway from the offline market. “We don’t decide on the channel on behalf of consumers. The most important task is to make innovation which can create demand. Over 25 years us being India, most strategic investments are towards offline expansion and growing the channel,” he said.

Interestingly, the corporate says it’s reached pre-COVID levels of smartphone demands. According to the report, Samsung was the fastest to increase the production capacity in the country. The company is now reportedly operating at 94 percent of the assembly level.

Samsung has no plans to hamper when it involves smartphone launches. The company is currently gearing up to launch the Galaxy M51 with a huge 7,000mAh battery on the 10th of September. The device was launched last month in Germany.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.