Will Samsung’s premium play help it undercut Apple’s aggressive push in India?

Samsung’s 8,000 sq ft online-to-offline premium store has finally opened at Jio World Plaza, located just 3 km away from Apple’s first retail store in India opened in April last year at Jio World Drive in the heart of Mumbai’s bustling Bandra Kurla Complex. This will mark an important milestone in the South Korean electronics company’s premium play in India, especially at a time when its rival Apple is beefing up its manufacturing capabilities and offline retail presence here, which is also reflecting in higher sales growth for the company.  

According to International Data Corporation, from 2019 to 2023, Apple grew its share from 0.9% to 6%, while Samsung’s share in the same period slipped from 20.3% to 17.1% in India. 

Samsung India, too, is focussing on the upper spectrum of premium customers with the launch of this store that will feature all its premium products ranging from smartphones to televisions, refrigerators, and washing machines under one roof, in a bid to ramp up its offline sales. 

“The premium segment contributes around two-thirds of total sales coming from our own brand stores offline, which would get elevated with the integration of AI and GenAI. AI showcases and puts in perspective the kind of experiences consumers can get from a fully connected ecosystem of devices and consumer goods,” Sumit Walia, D2C business senior director, Samsung India said.   

“We’re seeing phenomenal change inclined towards the growth of the premium segment across all categories. That’s where we’re tried to put together and tailor our experience like this. We envision the Samsung ecosystem to play out in India through our app, which will be integrated to our product portfolio from home appliances to consumer devices. With this infrastructure it helps them connect seamlessly,” he adds. 

Samsung is also placing a huge bet on artificial intelligence (AI) with the launch of its latest flagship devices, the Galaxy S24 product family. “Samsung BKC will redefine flagship experience for customers with the latest Galaxy S24 series. The store will offer not only Galaxy S24 special edition colour options but also free first-of-its-kind gen AI enabled personalization of their latest Galaxy AI smartphone,” he adds. 

Samsung is clear about its focus on young buyers. “Today’s customers, especially Gen Z and millennials, are seeking premium products and unique experiences. They want to interact with the brand and its products, touch, feel and create. This is what Samsung BKC is all about. We have curated never seen before experiences in eight unique zones that include all our AI experiences to excite people across segments. Here, customers will get a feel of our expansive connected devices ecosystem and our cutting edge technology,” said JB Park, President & CEO, Samsung Southwest Asia.