Samsung's Strategic Expansion in India's Consumer Electronics Market

Samsung is aiming to significantly expand its appliance and display business in India, projecting it will make up half of its revenue within three years. With the Indian economy and middle class on the rise, Samsung is introducing AI innovations in appliances and targeting untapped markets.

Samsung, a leading player in consumer electronics, plans to significantly escalate its appliances and display operations in India, according to J B Park, President & CEO of Southwest Asia. He projects these sectors will contribute to half of Samsung's revenue in the region over the next three years.

Currently, the penetration of consumer electronic products is low in India, a market dominated by mobile devices. However, with the country's economic growth and the rise of the middle class, Samsung is poised to broaden its market presence by incorporating advanced features like AI in its appliances and display products, such as QLED and OLED TVs.

While Samsung's mobile phone business currently commands a large share of its revenue, Park anticipates a significant shift towards consumer electronics in the future, foreseeing revenue parity between these sectors. Moreover, Samsung is enhancing its retail footprint by doubling the number of Samsung Experience Stores across smaller Indian markets by 2025.

(With inputs from agencies.)