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Samsung doubles down on India festive quarter to maintain lead



After clinching back India smartphone market from Xiaomi in Q3, Samsung India on Thursday announced to double down on its efforts in the ongoing festive quarter by not only maintaining the 40 per cent (year-over-year) growth in value in the smartphone segment but further cement its value leadership in the country by adopting a two-pronged strategy.

While there are aggressive pricing, cashbacks and attractive EMI offers across Samsung portfolio — from the foldable family to the affordable ‘M’ series — several programmes on make it simpler for customers to buy Galaxy smartphones at easy finance within the comfort of their homes.

“We have had a slew of launches in the festive season. We launched 12 smartphones in the last two-three months that cater to a wide audience – from premium to the affordable segment. The response so far has been tremendous and we are set to further grow our value leadership in the country in the fourth quarter,” Asim Warsi, Senior Vice President, Samsung India, told IANS.

The South Korean major is witnessing growth across online and offline channels in the second half of the year.

“The M51 with a monstrous 7000mAh battery is doing very well, so are F41 and M31 Prime Edition, M01 and M11 smartphones. The same momentum is being seen for our tablets in the country. We are bullish on Q4,” Warsi said.

The company aims to sell 20 million Galaxy ‘M’ series devices by the end of this year.

According to Mohandeep Singh, Senior Vice President, Mobile Business, Samsung India, the company is making sure a safe and enhanced buying experience for its consumers in the country.

“Our indigenous platforms like Samsung Finance+ and Samsung Care+ have created unique propositions for consumers to create affordable offers with complete peace of mind. The ‘Reward Yourself’ programme covers a large number of smartphones, tablets and wearables,” Singh told IANS.

The ‘Reward Yourself’ programme helps consumers get flat 10 per cent cashback with HDFC Bank credit and debit cards and SBI credit cards, exciting bundle offers and a range of other benefits on Samsung’s wide portfolio of smartphones, wearables and tablets.

Samsung has also launched an interactive e-catalogue for its diverse portfolio of products. Through the e-catalogue, consumers will be able to browse through the entire range of smartphones, wearables, televisions and other digital appliances.

“In India, the average selling price (ASP) of smartphones are growing and Samsung is a leader here. Not only mass-segment but we are also doing equally well in the premium and foldable segment in the country,” Singh informed.

According to Warsi, the Flipkart Smart Upgrade scheme which is based on the ‘Galaxy Forever’ programme is doing very well.

Three devices which are part of the Smart Upgrade programme — S20+, Note 10+ and F41 — have received an incredible overall attach rate on Flipkart, he said.

Riding on multiple strategies — including effective supply chain and touching various price points through new launches — Samsung became the leading brand in the India smartphone market with 32 per cent (year-on-year) growth in Q3, according to Counterpoint Research.

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ICICI Bank sets up presence in Nepal



ICICI bank, apex consumer commission, Rs two lakh, ATM fraud, Business news

Lending major ICICI Bank on Thursday launched its operations in Nepal, via a representative office, to become the first Indian private sector bank to set up its presence in the country.

The bank opened a representative office in Kathmandu which will closely work with the domestic banks in Nepal to facilitate investment, trade, payments and treasury business between the two countries.

According to the bank, the current foray has expanded its global footprint to 15 countries including India.

“India and Nepal have significant trade and investment links between them. We believe that ICICI Bank’s on-ground presence through the new representative office coupled with its strong business partnerships with banks in Nepal, will help us further our participation in the economic flows between the two countries,” said Sriram H. Iyer, Head – International Banking Group, ICICI Bank.

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