Samsung to double retail footprint, push premium TV gross sales

NEW DELHI : South Korean electronics main Samsung intends to double its retail footprint in India by increasing each unique and partner-run shops. A senior government mentioned in an interview that the corporate goals to develop its retailer depend from 2,500 to five,000 by the top of this yr, specializing in promoting premium televisions in tier 2 and three cities.

“We might be current throughout all channels, however we’re focussing on increasing our offline retailer community. Till final yr, we had roughly 2,500 retail accomplice shops for promoting QLED televisions. This yr, we might be at 5,000,” mentioned Mohandeep Singh, senior vice chairman of Client Electronics Enterprise, Samsung India.

Aside from doubling its retail presence, Samsung plans to develop the variety of “expertise centres” from two to fifteen this yr, mentioned Singh. On Wednesday, the agency launched a brand new vary of premium QLED, or quantum dot LED, and neo-QLED TVs for the Indian market, following the revealing on the Client Electronics Present 2023 in Las Vegas earlier this yr. The TV lineup begins at 1.42 lakh and makes use of quantum dots in entrance of standard LED backlight panels to boost colors.

Singh mentioned its retailer footfalls have risen for the reason that pandemic, and premium merchandise usually carry out higher in-store, as prospects favor to ‘contact and really feel them’ earlier than buying. He additionally sees a premiumization pattern within the TV market, extending past the metros and tier 1 cities.

“Demand in smaller cities is rising as quick as bigger cities and, at occasions, even sooner.” For example, Davangere, Gorakhpur, Bathinda and Dibrugarh are a few of the smaller cities the place Samsung is seeing a rising demand for premium televisions.

In response to Counterpoint Analysis, sensible TV shipments noticed 28% development from a yr in the past in 2022. Samsung was the second-largest sensible TV model, accounting for 10.2% of the shipments, whereas China’s Xiaomi led the market with a ten.5% share.

Samsung noticed an rising desire for big-screen TVs, and a “speedy transition” from 32-inch to 43-inch ultra-high definition televisions, Singh mentioned. “Shoppers are additionally choosing larger-screen TVs, and premium patrons are upgrading to premium applied sciences equivalent to QLED and 8K.”

Televsions above 55 inches witnessed 150% development throughout 2020- 2022, whereas the 65-inch section noticed a 200% improve, and 75-inch class surged by over 300%.

The corporate expects its QLED TV enterprise, which is a part of its most premium traces, to develop by 2x in 2023. Televisions with 8K resolutions additionally noticed 2x development for Samsung final yr, and the agency plans to take this to 3x this yr.

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