Last Update: 17 September 2022, 11:39 IST
Riding on its premium segment offerings, Samsung on Friday said it expects 45 per cent growth in its consumer electronics sales during the festive season. Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India, told IANS that in its consumer electronics portfolio, “we are expecting 80 per cent growth in the premium segment.”
“Consumers are back in stores and the festive shopping spirit is at an all-time high with the upgrade trend. We have doubled our retail investment to enhance the shopping experience of our consumers.” Samsung expects its premium TV business to grow by 45 per cent by the end of the festive period.
The company said that the demand for its Neo QLED TVs has seen a 4-fold increase from last year. In the UHD segment, Samsung has registered a growth of 65 per cent in the first half of the year. Singh said Samsung is installing premium products in more stores, also training 5,000 smaller partners and in-store executives.
as India Entering the festive season, online sales during the festive month are expected to reach $11.8 billion, up 28 percent from last year. According to RedSeer Strategy Consultants, sales are expected to reach $5.9 billion in the first festive week, up 28 percent from last year’s $4.8 billion.