Samsung India Expects up to 35 Percent Revenue Growth This Year

Samsung India Expects up to 35 Percent Online Revenue Growth This Year
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In wake of the coronavirus pandemic, Samsung started concentrating more on its online smartphone business. The company has launched several phones lately, especially in the Galaxy M series. In a recent interview with ET, Samsung India’s Senior VP Asim Warsi says the smartphone giant expects up to 35 percent growth in revenue from the online segment this year.

“We are aiming to achieve $3.5 billion gross merchandise value (GMV) for our M-series of smartphones since launch in 2019 to end 2020. We have reached pre-Covid level of demand which is increasing and the H2 will itself be a growth period for the industry over last year. But, it is still not enough to make full year positive,” Samsung India Senior Vice President Asim Warsi told ET.

However, Samsung is not drastically shifting its focus away from the offline market. “We don’t decide the channel on behalf of consumers. The most important task is to create innovation which will create demand. Over 25 years us being India, most strategic investments have been towards offline expansion and growing the channel,” he said.

Interestingly, the company says it has reached pre-COVID levels of smartphone demands. According to the report, Samsung was the fastest to increase the production capacity in the country. The company is now reportedly operating at 94 percent of the production level.

Samsung has no plans to slow down when it comes to smartphone launches. The company is currently gearing up to launch the Galaxy M51 with a massive 7,000mAh battery on the 10th of September. The device was launched last month in Germany.

comment Comments 1
  • Sai Krishna says:

    Guys Are those Lizards in the picture

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