The Galaxy S10 Series Gaining Popularity
Samsung Electronics reclaimed the first spot in the premium smartphone market in India in the first quarter of this year.
Global market research firm Counterpoint Research released a report on the smartphone market in India on May 13. Samsung launched the Galaxy S10 series in the Indian market immediately after its global launch and received positive responses from Indian consumers, the report said. This has enabled Samsung Electronics to regain its lead in the premium market. The S10 series features diverse new functions, including an ultra-wide camera, an Infinity-O display, ultra-sonic fingerprint recognition and the sharing of electric power through wireless battery charging.
China’s OnePlus lost first place to Samsung Electronics. It ranked first in the premium phone market for the past three quarters. The company’s OnePlus 6T remained the best selling smartphone in the Indian market in the first quarter.
The success of the Samsung S10 series and the OnePlus 6T indicates that the premium smartphone segment has been expanding in the Indian market. Indian smartphone users are choosing high-end smartphones with high price tags as their second or third mobile phones.
In addition, installment plans ease price burdens on consumers and manufacturers are promoting sales via buybacks and trade-in promotions. This feature is paying off handsomely particularly in the price sensitive Indian smartphone market.
Currently, the premium smartphone market in India is hogged by Samsung, OnePlus, and Apple which jointly account for 90 percent of the market.
Huawei is ramping up its market share as the Indian market positively responded to its Mate and P series. "High prices pulled down the Apple iPhone's share in the Indian premium smartphone market. But Apple is expected to mass-produce the iPhone in India, which will get rid of an import duty of 20 percent on the iPhone," a Counterpoint Research representative said. "If this cut in cost translates into a benefit for consumers in terms of prices, it will trigger sales growth on the coattail of the high brand power of Apple in the Indian smartphone market."