Samsung Electronics Chairman Lee Jae-yong arriving in Mumbai, India, to attend the wedding of the youngest son of India’s Reliance Group last July. The photo shows Chairman Lee wearing traditional Indian clothing at the wedding of Akash Ambani, the eldest son of Reliance Industries Chairman Mukesh Ambani, in 2019. [사진출처 = 신봉길 전 주인도대사 페이스북]”/> news/cms/202411/03/news-p.v1.20241103.7069225f1af34e57bb71f1650e6bfb8e_R.jpg" data-width="300" data-height="363" /> Enlarge photo Samsung Electronics Chairman Lee Jae-yong was captured by local media arriving in Mumbai, India, to attend the wedding of the youngest son of India’s Reliance Group last July. The photo shows Chairman Lee wearing traditional Indian clothing at the wedding of Akash Ambani, the eldest son of Reliance Industries Chairman Mukesh Ambani, in 2019. [사진출처 = 신봉길 전 주인도대사 페이스북]
Samsung Electronics achieved first place in sales share in the Indian smartphone market in the third quarter. Although sales fell behind China’s Vivo and Xiaomi, which advertised mid- to low-priced products, sales increased as many Indian consumers sought out high-priced premium products such as the Galaxy S series.
According to market research firm Counterpoint Research on the 3rd, Samsung Electronics recorded a 22.8% sales share in the Indian smartphone market in the third quarter.
This is a 0.2 percentage point increase from 22.6% in the third quarter of last year. Samsung Electronics ranked first in market share in the third quarter of this year, following the third quarter of last year.
Apple ranked second with 21.6%. Chinese brands such as Vivo, Oppo, and Xiaomi ranked 3rd to 5th with 15.5%, 10.8%, and 8.7%, respectively.
In terms of sales volume, Chinese brands Vivo (19.4%) and Xiaomi (16.7%), which boast mid- to low-priced product lines, ranked first and second in terms of sales volume, respectively.
Samsung Electronics ranked third with a share of 15.8%. This is a decrease from 17.2% in the third quarter of last year.
The increase in sales despite the decrease in sales volume can be interpreted as the increase in sales of high-priced premium products such as the Galaxy S series.
India, which surpassed China to become the world’s most populous country (1.4 billion people), is continuing rapid economic growth. There are many young consumers in their 20s and 30s, and the middle class is increasing, so demand for premium products is rapidly increasing in the smartphone and home appliance markets.
Counterpoint Research explained that Samsung Electronics is leading the Indian market and that its sales share has expanded due to strong sales of the Galaxy S series in particular.
Samsung Electronics, which is quickly gaining prominence not only in smartphones but also in white home appliances such as TVs, washing machines, and refrigerators, is currently operating over 200,000 retail stores and experiential flagship stores in India.
Last July, Samsung Electronics Chairman Lee Jae-yong also visited India to attend the wedding of the youngest son of India’s largest conglomerate, making efforts to solidify the global network.
According to foreign media such as ANI, the wedding ceremony that Chairman Lee attended at the time was a wedding ceremony between Anant Ambani, the youngest son of Reliance Industries Chairman Mukesh Ambani, and Radhika Marchant, a member of a pharmaceutical conglomerate family.
Chairman Lee is the only Korean businessman invited to the wedding of Chairman Ambani’s children, and has previously been a guest at the wedding of Reliance Industries Chairman’s eldest son and daughter.
Chairman Lee, who observed the local IT market situation at the time and met with executives and employees to encourage them, also left a message saying, “Let’s make history with fierce competitive spirit and desperation.”
