Samsung announced Monday that it has an 81% market share in the premium smartphone segment, with the flagship Galaxy S22 Ultra controlling 74% in March 2022. The company expects to grow further to double digits in the second quarter of 2022.
This phone tops the share of 74%
“We achieved a record 74% market share in the US$1,00,000 price segment with the Epic Galaxy S22 Ultra,” said Aditya Babbar, Senior Director and Head of Product Marketing, Mobile Business, Samsung India, in a press release.
First place in the $30,000 + premium segment
Citing data from Counterpoint Research, the company also claimed to be a key position in the premium segment above Rs 30,000 with a market share of 38%.
The research firm also said that Samsung was the market leader in the overall smartphone segment in March 2022, with Samsung Mobiles accounting for 22% of the volume. With this achievement, the company cemented the lead in smartwatches and tablets with a volume share of 73% and 43% respectively in March 2022.
Read also – two great phones with a curved screen, up to 16GB of RAM and a camera of up to 100MP
The company told this the reason for the record sale
Babar said the achievement was made due to the expansion into non-metro areas in India, opening of more experience centers and stocking of premium offerings in more retail stores across the country.
“We have developed our leading retail footprint to enable consumers to experience our devices not only in metro cities but also in Level 1 and smaller cities,” he added.
The integration of Samsung’s premium segment also resulted from new financing schemes such as Samsung Upgrade and Samsung Finance Plus, which increased sales in non-urban areas.
Samsung Upgrade, according to Babbar, provides users with a chance to trade in their old smartphones when buying a premium Samsung mobile, while the latter acts as a lending service for customers, EMIs for buying premium Samsung smartphones offer loans with plans.
The premium smartphones are often launched in India with discounts on the use of credit and debit cards. However, Samsung says credit card users are largely concentrated in metro areas, and there weren’t many options available in the rest of India.
(cover photo – edge)