China is considered the world’s largest mobile market, for which the chief executive of Samsung Electronics said they are “going in the right direction” in China. They have boosted their premium offers and made partnerships with regional content companies in the process of raising their lagging market share.
According to TM Roh, the head of mobile experience at Samsung Electronics, Samsung, the world’s largest smartphone maker, is experiencing small gains in China in its single-digit market share.
Roh told reporters this week, “We are making efforts to reach Chinese consumers with products that fit the China market, through software optimisation that fits the China market, and I think the results are coming out little by little.”
The aim of Samsung in China’s market is to recover by launching premium products. Samsung launched its flagship foldable phone on Wednesday, and they are partnering with local content firms and strengthening their bond.
According to Counterpoint data, Samsung has recovered its market share from March, which is about 1.1%, whereas it was the smartphone giant in China in 2013 with a 20% market share, which eventually shrank to 1% in 2018.The downfall continued for a brief period because of many Chinese vendors like Oppo, Honor, and Vivo, and apart from them, it was heavily overshadowed by Apple.
The demand for luxury phones is surpassing the demand for basic models, and the trend is likely to continue for some time. Roh said that, as “mobile users’ device replacement cycles are getting longer and longer in the global market.”
“I think they now decide buying the right product and using it longer is much more satisfactory and advantageous to their experience than replacing quickly with a new product.”
Roh added that they were planning to expand their customer base for lower-priced foldable models, including in India and China. As they pioneered the foldable phone in 2019.
The World’s largest smartphone maker will announce its full second quarter earnings on Thursday.
