Info-tech

Samsung doubles down in India, opens its biggest store world-wide

Reuters MUMBAI | Updated on September 11, 2018 Published on September 11, 2018

HC Hong, President and CEO, Samsung Electronics SouthWest Asia, gestures as he speaks during the opening of a Samsung store in Bengaluru, India, September 11, 2018.   -  REUTERS

Samsung Electronics Co Ltd opened its biggest mobile store in the world in India on Tuesday as it tries to take pole position in the world’s second-biggest smartphone market amid fierce competition from Chinese brands.

The South Korean tech giant’s roughly 33,000 square foot store in the southern tech hub of Bengaluru will help it extend its lead in India over global rival Apple Inc, which has yet to open any flagship stores in the country.

India, which boasts more than a billion wireless connections, presents a lucrative opportunity for smartphone makers to expand beyond China and the United States where growth has slowed.

Samsung opened the world’s biggest smartphone plant outside Indian capital New Delhi just two months ago. “India is an extremely important market,” Mohandeep Singh, Senior Vice-President, mobile business at Samsung India told Reuters, adding that the company plans to open more such stores in some of India’s top 10 cities. “These stores...will really help us further consolidate our share as we move forward,” Singh said.

The new store will feature Samsung mobile devices but also showcase its consumer electronics products and latest innovations. It will also house a service centre for phones. Samsung has spent “huge” money to lease out the property, Singh said, declining to give specifics.

A view of the newly opened Samsung store in Bengaluru, India, September 11, 2018.   -  REUTERS

 

Samsung, which runs 2,100 stores in India through franchise partners, is facing off against a host of Chinese brands led by Xiaomi Corp. It has pulled pages from their playbooks to become savvier with online marketing -- launching devices aimed at millennials, seeking to reinvent itself as a ‘younger brand’ and finding a new love for cricket with a sponsorship deal.

Samsung also wants to develop the centre as a meeting point for startups and venture capitalists, Singh added.

Apple sells its devices in India through reseller stores and online marketplaces and has a meagre market share of one per cent.

Published on September 11, 2018

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.