With India being the second biggest smartphone market in the world, Samsung Electronics’ move underscores its strategy of extending its market lead over its peers, which include low cost Chinese peers and Apple Inc’s smartphones.
India, the world’s second-biggest smartphone market, has become the home to Samsung Electronics Co’s biggest mobile store in the world.
Samsung’s roughly 33,000 square foot store in India’s tech hub of Bengaluru will enable the South Korean tech giant to extend its lead in India over rivals such as Apple Inc, which has yet to open any flagship stores in the country.
For Smartphone makers, India, which already boasts of more than a billion wireless connections, presents a lucrative opportunity beyond traditional markets such as China and the United States, where growth, in recent times, has been slow.
“India is an extremely important market,” said Mohandeep Singh, senior vice-president, mobile business at Samsung India. He went on to add, Samsung plans on opening more such stores in the country’s top 10 cities.
“These stores … will really help us further consolidate our share as we move forward,” said Singh.
Samsung’s new store will not only feature its latest devices but also showcase its consumer electronics products and latest innovations and house a service center as well.
Samsung has spent “huge” money to lease out the property, said Singh, while declining to provide any specifics.
Samsung has nearly 2100 stores in India, including franchise partners. Its peers include low cost Chinese brands including Xiaomi Corp.
Samsung also intends to develop the center as a meeting point for startups and venture capitalists, said Singh.