Riding on its premium segment offerings, Samsung on Friday said it expect 45 per cent growth in its consumer electronics sales during the festive season. Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India, told IANS that across its consumer electronics portfolio, “we are expecting a growth of 80 per cent in the premium segment".
“Consumers are back in stores and the festive buying sentiment along with upgrade trend is at an all-time high. We have doubled our retail investment to enhance the shopping experience of our consumers," he added. In its premium TV business, Samsung expects 45 per cent growth by the end of the festive period.
The company said that the demand for its Neo QLED TVs has seen a 4X growth since last year. In the UHD segment, Samsung registered a 65 per cent growth in the first half of the year. Singh said that Samsung is setting up premium products across more stores, training 5,000 small partners and also in-store executives.
As India enters the festive season, online sales during the festive month are expected to reach $11.8 billion, a 28 per cent increase from last year. In the first festive week, the sales are estimated to reach $5.9 billion, projecting a 28 per cent increase from $4.8 billion last year, according to Redseer Strategy Consultants.