Samsung has seen strong growth in its consumer electronics sales over the past 3 months despite losing out to Chinese companies in the smartphone market. The Korean company now aims to grow by over 65 percent this festive season with the sales of its premium category of TVs and digital appliances.
Raju Pullan, Senior Vice President, Consumer Electronics Business, Samsung India revealed that they’ve seen a strong uptick during the Onam and Ganesh Chaturthi festivals already. This, combined with the increased demand from consumers looking to equip their homes with the latest tech following COVID unlocks, has led to a boom in business.
The growth has especially been in the television sector where the company is almost a consumer favorite, seeing 63 percent growth with QLED TVs. But that’s not all. Sales of refrigerators and washing machines have seen a growth of 100 percent and 50 percent respectively, in the month of August alone.
“We planned for festive season way in advance to stay ahead of the curve and ensured that we are well stocked up and expanded our premium portfolio with the launch of Neo QLED TV, The Frame TV, French Door Refrigerators, AI Ecobubble washing machines, WindFree ACs, etc., to cater to festive demand,” Pullan said.
Pullan went on to say that, unlike last year, when the brand’s growth was mainly limited to tier-2 markets, this year’s growth has been spread throughout metro cities as well as tier 2 and 3 markets.
Samsung has already announced a ‘Big TV Festival’ with offers to encourage further growth for its 55-inch and above TV offerings. This is paired with ‘Home Like Never Before’ offers for washing machines, refrigerators, microwaves, and ACs.
Last but not the least, Samsung is offering exciting deals through the ongoing Amazon’s Great Indian Festival and Flipkart’s The Big Billion Days.
Regardless, Samsung’s ability to achieve the coveted 65 percent growth rate will be tested during the next two months. Underlying supply issues are the biggest setback that can hamper the company’s goals and are something that need to be addressed.
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