New Delhi: Samsung’s mobile business in India surpassed market growth and grew by approximately 25% in value in the first half of 2022, mainly due to strong adoption of the Korean brand’s flagship S-series, regular A-series and budget M Series Smartphonessaid a top executive.
“We increased total value market share from January to May 2022 to 22.6%, compared to 20% in the same period a year ago, according to Counterpoint Research,” said Aditya Babbar, senior director and head of marketing at Samsung India.
The value market share of Samsung smartphones in the price range of Rs 10,000-40,000 it reached 26.9% between January and May, up from 21.4% last year, Babbar said.
Samsung led the market in terms of value share during this period, with a good gap between second place Xiaomi with a 17% market share, according to Counterpoint. Vivo was in third place with 16%, while Apple was in fourth place with a share of 13%.
Counterpoint calculates value market share as a product of shipments and sales prices of individual handsets placed on the market over a period of time.
However, Xiaomi remained at the top in volume with a 22% share of shipments in the January-May period. Samsung had a 19% share and was in second place, while Realme took third with a 16% share.
To further consolidate its leadership, Samsung launched two budget M-series smartphones in the high volume segment below Rs 15,000 on Thursday. One is the brand’s cheapest 5G smartphone with support for 11 5G bands. Samsung said it has about 42 million M-series users since its launch in 2019. The brand plans to earn cumulative $1 billion in revenue from the M Series by 2022.
While smartphone sales increased in the second half of 2021 due to pent-up demand after the first half was marred by the Covid-19 delta wave, 2022 is expected to be slightly slower with demand not as high as before, and if due to the component shortage situation, which further increased the average sales prices.
“In terms of value, we see the market growing in H2, maybe not double digits, but at least single digits, and the outlook remains positive even if we don’t expect large numbers,” Babbar said, adding that the growth engines will be the festival sales and new product launch for Samsung.