Samsung announced 1.5x growth in pre-orders for its latest Flip and fold smartphone models, looking to grab more market share as its arch-rival Xiaomi is ceding ground amid India's regulatory pressure against Chinese brands.
According to Mint, Businessline, and Business Standard, Raju Pullan, senior vice president of mobile business at Samsung India, said that Galaxy Z Flip5 and Galaxy Z Fold 5 received a record pre-booking of 150,000 units worth INR15 billion (US$180 million). The pre-orders for the two models are 1.5x of their previous generation in India.
Pullan said that many consumers under 35 are buying the Flip, and the age group of 25–45 is the primary Fold model market.
Samsung is looking to weather the market downturn by relying on high-end models. According to IDC, India's smartphone shipments fell by 10% year-on-year to 64 million units in the first half of the year, while the mid-to-high-end and premium segments, priced at 400-600 and over US$600, saw their growth reach 34% and 75% year-on-year in the second quarter, respectively.
In early August, T. M. Roh, the president and head of the Mobile eXperience Business at Samsung Electronics, told PTI that Samsung targeted its market share from 35% to 50% in the super-premium segment with Galaxy Fold5 and Flip5.
IDC data shows that Samsung, with a market share of 15.7%, lost its first place to vivo, which commanded 16% of the market, in the third quarter in smartphone shipments. The previous long-term market leader Xiaomi saw its shipments plummet by 39.4% in the quarter, dropping to fifth place.
