Samsung Galaxy S24 dominates India's smartphone market with 250,000 preorders

Industry

Published: 24 Jan. 2024, 16:01 Updated: 24 Jan. 2024, 17:09

Samsung Galaxy S24 dominates India's smartphone market with 250,000 preorders

Samsung Electronics opened Samsung BKC, an experience-centered retail outlet, in Mumbai's Bandra Kurla Complex on Tuesday. [SAMSUNG ELECTRONICS]

Samsung Electronics logged a record-breaking 250,000 preorders for its newest Galaxy S24 series in India, solidifying its position in the world's second-biggest smartphone market.

The Korean electronics company said it secured 250,000 pre-bookings for Galaxy S24 series in just three days since it opened reservations in the country on Jan. 18. It took three weeks to secure that many preorders for the previous Galaxy S23 series, the company said.

“The huge success of the Galaxy S24 series demonstrates that Indian consumers are early adopters of new technology. I would like to thank our consumers for their overwhelming response to Galaxy S24 series,” said Raju Pullan, senior vice president at Samsung India.

India is a new battleground for smartphone producers, especially in the premium space.

The country's smartphone shipments registered 38.9 million units in the fourth quarter of last year, recording 20 percent year-over-year growth, according to Canalys. “The premium segment witnessed robust growth,” according to Canalys Senior Analyst Sanyam Chaurasia.

Samsung has been the biggest smartphone maker in India since the fourth quarter of 2022. Chinese brands dominated in prior years with Xiaomi taking the top spot.

Visitors experience the Galaxy S24 series at Samsung BKC. [SAMSUNG ELECTRONICS]

The Korean smartphone maker is expanding its commitment to India. The company began manufacturing premium handsets at its Noida factory starting with the Galaxy Fold 5 and Flip 5 last summer, shortening Indian customers' delivery times. That facility was previously reserved for its budget lines.

The Galaxy S24 series is also manufactured in the area, according to the company.

Samsung Electronics opened Samsung BKC, an experience-centered retail shop, at Jio World Plaza in Mumbai's Bandra Kurla Complex — where Apple opened its first Indian retail store — on Wednesday.

The BKC is Samsung's first experience-centered flagship store in the country.

It will cover products from TVs and gaming monitors to mobile devices and accessories as well.

“Today’s customers, especially Gen Z and millennials, are seeking premium products and unique experiences,” said Park Jong-bum, president and CEO Of Samsung Southwest Asia. “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.”

Apple is upping the ante in India's premium smartphone market.

It recently established a new office in Bengaluru after opening retail outlets in Mumbai and New Delhi last year.

Apple's presence in India, meanwhile, is yet trivial. The American company accounted for six percent of the country's smartphone market in the first half of last year, according to CyberMedia Research.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]