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samsung seeks bigger share of indian market with new line of high-end tvs - samsung
BENGALURU (Reuters)-
Samsung Electronics Co. , Ltd. said on Tuesday it plans to expand its share of the Indian market.
The screen TV market reached third in a few months as it introduced a new high-end TV series, hoping to avoid the slowdown it and other suppliers see in other markets.
Driven by more than a decade of uninterrupted growth, India's growing middle class is spending money on smart TV.
Samsung and others expect the Cricket World Cup, which is currently being held in England and Wales, to boost sales significantly.
During the festival in India, sales will also be promoted, traditionally families spend a lot on gifts, more and more on electronics, retailers offer a lot of discounts, and eventually Diwali
The annual festival of lights.
"Our strategic goal is to move towards a 34% market share in November after the Lantern Festival," senior vice president Raju Pullan told Reuters . ".
Pullan estimates Samsung's current market share is about 30%.
Driven by more than 1 billion consumers, China's desire for better TV has also become Netflix, Sky, and the past two years, apple and other companies, as well as some media outlets, have estimated that the tablet market is valued at more than $3 billion.
Manufacturers in Asia have been looking at upgrades in the US market. S. -
Market research firm IHS Markit recently said South Korean and Chinese TV makers had cut panel orders in the second quarter. Samsung, best-
Known for mobile phones, tablets and consumer electronics, and the world's largest maker of microchips, the lowest profit in more than two years was announced in April.
India is still relatively unscathed, with Samsung taking the top spot in the local TV market.
The company faces competition from LG Electronics and Sony and some smaller Chinese competitors.
On Tuesday, Samsung launched four new high-end televisions in India, with the most expensive set selling for about RS 6 million ($86,629. 95)($1 = 69.
RS 2600 India)(
Reports by Derek Francis and Sayanti Boti in Bangalore;
Edited by Shailesh Kuber)
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