Dr. TM Roh, President and Head of Mobile Experience Business, Samsung Electronics, on Monday said that the premium smartphone market in India is bound to grow despite the economic slowdown.
Dr Roh told IANS that the global consumer trend of adopting 5G smartphones and buying more reliable smartphones will drive growth in the Indian market.
“The demand for premium smartphones priced above $400 is growing rapidly in India as 5G networks expand. Here the 5G smartphone market is expected to grow by more than 60 percent in 2023, while the premium smartphone market is expected to grow by more than 30 percent.
Samsung recently said that it has recorded over 140,000 pre-bookings for its premium Galaxy S23 series in India in just 24 hours, which is double the number of pre-bookings it received for the Galaxy S22 series last year.
“It is being received very well by Indian customers, especially the Galaxy S23 Ultra in green,” he said.
Dr. Roh, the youngest ever appointed President of Samsung, said that the Indian smartphone market will continue to grow and Samsung will grow.
According to analysts, India will have around 1 billion smartphone users by 2026, driven by the rapid adoption of smartphones by young consumers. India has over 600 million Gen MZ consumers, the largest in the world.
Dr. Roh said Samsung will continue to invest in its R&D center in India and advance smart factory technology at its manufacturing center in India.
“2023 marks the 50th anniversary of diplomatic relations between Korea and India. I look forward to the next 50 years and please continue to show your love and support for Galaxy products that are built with effort, dedication and innovation.
– IANS
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