Samsung plans to manufacture its newest foldable smartphones, the Galaxy Z Flip5 and Galaxy Z Fold5, in its Noida factory in India, according to Samsung Southwest Asia CEO, JB Park. He said the move was part of the company’s strategy to tap into the growing Indian premium smartphone market.
What Happened? Park stated that Samsung is the fastest-growing premium smartphone brand in India, with more Indians showing interest in upgrading to high-end devices. The new foldable phones feature improvements like a faster processor, sleeker and lighter design, and brighter display.
To appeal to cost-conscious buyers in India, including those in rural areas, Samsung is offering special deals like upgrade bonuses, interest-free payment plans, and cashback from banks. The company is expanding its retail presence by 30-40% compared to last year, opening 10,000 stores with dedicated experience centres.
The Korean phone giant also happens to be following arch-rivals Apple which also plans on making their upcoming flagship iPhones in India.
Why it matters? Aditya Babbar, Senior Director of Mobile Business at Samsung India, told the Economic Times that demand for foldable phones is growing faster in rural than urban areas due to attractive affordability and financing plans. He revealed uptake of the Flip phone even in small towns like Churu in Rajasthan.
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