Samsung to increase market share to 32% in fully automatic washing machines segment
New Delhi, Apr 11 (FN Agency) South Korean consumer electronics major Samsung is banking on its Indian innovation-powered, artificial intelligence-enabled washing machines range to become the number one player in the fully automatic segment in India this year, according to a senior company official. The company is looking to increase its market share in the fully automatic washing machines segment to 32 per cent this year from 24.6 per cent at present in the category, which accounts for about 60 per cent of the total estimated 90 lakh units per annum washing machines market in India.
Samsung India had recently launched a new line-up of fully automatic front load washing machines which are artificial intelligence (AI) enabled with bi-lingual user interface in Hindi and English. ‘Our ambition is to go from the number two position to number one position, from a 24.6 per cent share to a 32 per cent share in fully automatic (segment) within this year 2021,’ Samsung India Senior Vice President, Consumer Electronics Business, Raju Pullan told. At present, rival LG occupies the top slot in the fully automatic washing machines segment. ‘With the 32 per cent (market share) objective we have set for ourself, we will be the Number 1 brand,’ he asserted, adding the company will achieve it though distinctive product and product differentiation and reliance on Indian innovation and the made for India range.
‘Our clear ambition, by providing this uniquely made for India sort of washing machine, is to be the number one (in the fully automatic segment),’ he said. The entire interface of the new range that is equipped with Samsung’s proprietary EcoBubble technology that quickly penetrates fabrics and removes dirt easily with extra fabric care has been developed by Samsung Research Institute in Bangalore, he said. ‘That’s the reason the Hindi language is in the wash cycle that consumers prefer. This is at the back of our entire vision of Samsung powering Digital India in 2021 onwards,’ Pullan added. The Internet of Things (IoT) enabled range can be connected with Samsung smart devices such as Galaxy smartphones, Samsung Smart TVs and Family Hub refrigerators as well as voice devices such as Alexa and Google Home giving users a seamless connected living experience. Samsung India will be launching 21 models under the new range and 16 of them are AI enabled, he said.
‘The fully automatic segment will be contributing 60 per cent right now in the overall washing machine market. We see that the fully automatic is the fastest growing segment because consumers are looking at convenience as one of the key buying factors,’ he added. When asked if the company will focus only on the top end of the market, Pullan said, ‘We will be a technology player and we will also be a value player and volume player. We will be aggressive across segments that’s there.’ The company will continue to grow and leverage across all the segments, whether it is semi automatic or fully automatic through ‘technological superiority and very strong differentiation in the right segment’, Pullan said.