by admin | May 25, 2021 | Business, Commodities, Commodities News, Economy, Markets, Medium Enterprise, News
New Delhi : Welcoming the government’s decision to slash Goods and Services Tax (GST) rates on over 50 items including refrigerators, washing machines and small televisions, several consumer electronics companies, including Samsung, have promised that they will pass on the full benefits to the consumers.
The new prices will be applicable from July 27, Samsung India said in statement.
“Samsung is a consumer-centric company. We are happy to extend full benefits, that is 7.81+ per cent of GST rate reduction to all our consumers,” said Rajeev Bhutani, Senior Vice President, Consumer Electronics, Samsung India.
“We believe it will fuel the demand for consumer electronics products now and in the ensuing festival season,” Bhutani said.
GST Council last week decided that over 50 items should be taxed at 18 per cent, down from the current 28 per cent.
The decision could also boost India’s mobile phone industry as lithium-ion batteries is among the items listed for tax reduction.
“The reduction of GST slab on lithium-ion batteries used in mobile phones from 28 per cent to 18 per cent will certainly prove as a good boost to the mobile phone industry as it would improve the penetration and affordability of the product in smaller towns across the country,” said Sudhir Kumar, CEO of domestic smartphone firm Tambo Mobile.
Domestic consumer electronic brand Intex Technologies also welcomed the move.
“The move by the government to cut GST in product segments like televisions (below 68 cm), washing machines, refrigerators and even powerbanks from 28 per cent to 18 per cent is indeed a very welcome and much awaited move,” said Nidhi Markanday, Director, Intex Technologies.
“The rate cut will benefit consumer durable companies like us to pass on the benefit to the consumers for the upcoming festive season. This move brings cheer to both consumers and players like us. We will definitely re-work the pricing and announce the price drop it well in time for the festive season,” Markanday said.
—IANS
by admin | May 25, 2021 | Business, Markets, Sales, SMEs
New Delhi : Samsung India has sold over 20 lakh units of its recently-launched Galaxy J8 and J6 mid-segment smartphones in India, attracting nearly 50,000 consumers a day, the company said on Monday.
Galaxy J6 was launched on May 22 while Galaxy J8 was introduced on July 1.
“We are happy with the huge success of Galaxy J8 and J6 smartphones. Our philosophy of keeping our ears to the ground and incorporating consumer feedback into our products has paid off,” said Asim Warsi, Senior Vice President, Samsung India.
The “Chat-over-Video” feature in Infinity models received an overwhelming response with more than 50 per cent consumers using it on a regular basis.
“Galaxy J8 and J6 have set the standard for an unparalleled viewing experience with our signature super AMOLED Infinity Display,” Warsi added.
Galaxy J8 is available at Rs 18,990 and Galaxy J6 (64GB and 32GB variants) are available at Rs 15, 990 and Rs 13,990, respectively.
Both Galaxy J8 and J6 sport Samsung’s signature “Infinity Design” philosophy, giving users nearly 15 per cent more display area without increasing the overall size of the device.
The Super AMOLED display deliver an 18.5:9 aspect ratio, providing more browsing space.
Galaxy J8 also sports advanced dual rear camera with flagship “Live Focus” feature, where users can bring sharp focus to the foreground while blurring out the background.
“Galaxy J, known for unique ‘Make for India’ innovations, has a stellar legacy, accounting for one in three smartphones sold in the country. We are confident that the new devices will help us further increase our market share in the country,” Warsi noted.
Samsung shipped 9.9 million smartphones in India in the second quarter of 2018, registering almost 50 per cent annual growth rate — its best since the fourth quarter of 2015, Singapore-based market research firm Canalys said last week.
Samsung “J2 Pro” was the top model in the second quarter, with 2.3 million units shipped in India.
—IANS
by admin | May 25, 2021 | Interviews
By Nishant Arora,
New Delhi : Having dominated the Indian smartphone market for years, Samsung will focus on fundamentals like making devices across price segments in 2018 and leverage its R&D work to achieve that goal, a top India executive has reiterated.
Samsung had 47 per cent market share (by value) in the country in September and 65.4 per cent (by value) for the third quarter (premium segment) this year, according to German research firm GfK which tracks sales to end-consumers.
According to Asim Warsi, Senior Vice President, Product Planning and Marketing, Samsung India, the thrust next year will be on making devices that match consumers’ changing requirements.
“We have been leading and consolidating our position in India continuously for several years. Our gains have come from certain core fundamentals of doing business that we always adhere to and will double down on those fundamentals going forward,” Warsi told IANS in a free-wheeling chat here.
“We will continue to invest more and the thrust will be to make phones and other devices customised for Indian conditions…that deliver greater customer satisfaction. We will also leverage our full R&D potential in the months to come,” Warsi stressed.
Next on his to-do list is further improvement in Samsung’s after-sales service network.
“We have the largest after-sales service network in India to reach out to people anywhere, even in the hinterland. Innovation is paramount and you will see lots of new innovations and things customised for the Indian market next year,” informed Warsi, who has been at the helm at Samsung for over 12 years.
Samsung has had a great first half with Galaxy S8 and S8+ devices in India.
“We launched the all-new Samsung Pay service this year, unveiled successful models like Galaxy C9 and C7, Galaxy J7 Max and J7 Pro and ultimately Galaxy Note 8, that is doing great in the hot premium segment,” Warsi told IANS.
According to him, India is offering double-digit growth for all phone categories — led by smartphones.
“I don’t say that feature phones are going to go away, but smartphones will bring more growth; be it in the Rs-10,000 mass segment, the Rs 20,000-30,000 high-end segment or above Rs 30,000 premium category,” Warsi noted.
Camera continues to be a highlight but, said Warsi, services like entertainment and utility (My Galaxy), UPI-based mobile payment ecosystem (Samsung Pay) and AI-based features (digital assistant Bixby) and Internet of Things (IoT) will continue to enhance consumer experience.
Refuting reports that Samsung’s market share has slipped in India, Warsi said: “German research firm GfK reports final consumption which is the most important measure of market share. Shipments are important but they don’t tell the final market share. The real share is what I sold out to my customers and here, we are pretty strong.”
“Our supply chain is very efficient and lean till the retailers’ end. We don’t do big imports, ship and create massive inventories. We pulse the supply chain system basis the changing demand and the seasons in India,” Warsi explained.
The South Korean giant recently announced that it would invest Rs 4,915 crore in expanding its Noida manufacturing plant.
The expansion will double its production capacity of both mobile phones and consumer electronics, further consolidating the firm’s leadership in these segments.
Samsung’s Noida plant was one of the first electronics manufacturing facilities set up in the country in the early 1990s. The plant started with televisions in 1997. The current mobile phone manufacturing unit was added in 2005.
Samsung has two manufacturing plants — in Noida and in Sriperumbudur, Tamil Nadu — five R&D centres (the biggest is in Bengaluru — which is also the largest outside South Korea), and one design centre in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets.
“The Indian smartphone market is very encouraging and will keep growing in double digits. Wait for some industry-disrupting features soon from us,” Warsi said.
(Nishant Arora can be contacted at nishant.a@ians.in)
—IANS
