Samsung is moving in the right direction in the Chinese market, according to the mobile chief.
Samsung is moving in the right direction in the Chinese market, according to the mobile chief.
Samsung Electronics Making Strides in China’s Mobile Market
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In the ever-competitive world of smartphones, Samsung Electronics is making significant strides in China, the largest mobile market globally. According to TM Roh, the head of mobile experience at Samsung Electronics, the world’s leading smartphone manufacturer is implementing strategies to increase its market share by focusing on premium offerings and establishing stronger ties with local content firms.
Over the years, Samsung’s presence in the Chinese market has declined steadily, but recent data reveals signs of improvement. “We are making efforts to reach Chinese consumers with products that fit the China market, through software optimization that fits the China market, and I think the results are coming out little by little,” said Roh during a press conference.
To regain lost ground, Samsung’s mobile business has set its sights on “recovering” the China market by introducing premium products and services. The recent launch of their flagship foldable phones is a testament to this commitment. By incorporating cutting-edge technology into their devices, Samsung aims to capture the attention and loyalty of Chinese consumers. Additionally, the company is forging partnerships with local content firms to enhance its offerings and cater to the unique preferences of Chinese consumers.
A few years ago, Samsung held a dominant 20% market share in China, securing its position as the top smartphone vendor. However, it faced a steep decline in subsequent years, overshadowed by competitors like Apple, Vivo, Oppo, and Honor, resulting in a mere 1% market share in 2018. Despite these setbacks, Samsung’s market share in China has rebounded. As of March this year, Counterpoint data indicates that Samsung has recaptured a 1.1% market share, indicating a positive trajectory for the company.
Underlying Samsung’s recent success is the global trend of consumers favoring premium smartphones over more basic models. Roh believes that this preference will continue, as mobile users are increasingly opting to use their devices for longer periods instead of quickly replacing them with newer models. This behavior aligns with Samsung’s strategy to deliver high-quality devices that provide a satisfactory and advantageous user experience over an extended period.
One notable area where Samsung has made significant progress is in the development of foldable phones. Since pioneering foldable technology in 2019, Samsung has shown dedication to broaden its customer base, not just in China, but also in India. Recognizing the demand for more affordable options, Samsung is actively working on introducing a lower-priced foldable model. By making these devices accessible to a wider market, Samsung aims to solidify its position and capitalize on emerging opportunities.
Later today, Samsung will announce its full second-quarter earnings, which will unveil a more comprehensive picture of the company’s performance. Based on the positive trends observed in Samsung’s China market recovery and its focus on developing premium devices that cater to changing consumer behaviors, it is anticipated that Samsung will continue to strengthen its position as a leader in the global smartphone market.
Please note that the article is an adaptation and expansion of the original content provided. The information, views, and opinions expressed in this article are those of the author’s and do not necessarily reflect the official policy or position of Samsung Electronics or any other mentioned organizations.
