Samsung Electronics opened the largest electronics experience and exhibition hall in India. In particular, as the Chinese electronics industry expanded sales and marketing activities in the Indian market, Samsung Electronics which claims the top spot in TVs and smartphones is also significantly scaling up its local marketing.
According to the electronics industry on August 15, Samsung Electronics recently opened the Executive Briefing Center (EBC) of 836㎡ space at its head office in Gurgaon, southwest of New Delhi.
Samsung Electronics is planning to showcase B2C products such as home electronics and B2B (business-to-business) products and technologies such as IT infrastructure, smart factories, smart education systems and digital financial services among others. In particular, Samsung Electronics provides healthcare and education services with the Galaxy Tab Iris loaded with an iris recognition function and takes the wrap off a smart home which is composed of a QLED TV and a frame TV for the general public.
Samsung Electronics is stepping up its local marketing efforts by setting up the experience center in India because demand for premium products is spiraling upward as India continues to grow among emerging markets. In the first quarter of this year, SIEL, Samsung Electronics’s manufacturing and sales company in India posted 2.83 trillion won in sales, up 22% from the same period of last year.
However, lately the market environment in India has been not so favorable. This is because Chinese makers with value products are in hot pursuit of Korean companies in India. According to market researcher Counterpoint Research, Samsung Electronics ranked first in the smartphone market in India with a market share hitting around 25%. However, Chinese smartphone makers such as Xiaomi, Vivo, Oppo and Lenovo are rising fast. Chinese companies’ market share increased from 36% in the fourth quarter of last year to 44.6% in the second quarter.
According to the electronics industry, Samsung Electronics sat first with a 30% market share in the Indian flat TV market in the first half of this year, followed by LG Electronics (24%) and Sony (23%). However, in the TV market, Chinese manufacturers such as TCL, Hisense, and Konka made inroads into India and launch low-priced products. As a result, Samsung Electronics launched new TV models in India two months earlier than in the past in May. "We will provide a mirror display system that can work with virtual garments at clothing stores as well as general B2C home electronics in India. At the same, we will make more efforts to ramp up our share in the B2B market to which we supply smart factory systems for factories based on internet of things (IoT) systems." a Samsung Electronics official said.