 "Samsung aims to grow 5G revenue share to 75% in 2023: Sr VP at S23 launch")
Samsung India on Tuesday said that it intends to grow revenue from 5G models while continuing to cater to all segments of the mobile handset market.
In value terms, 5G grew 78 per cent for the mobile industry in 2022, but Samsung said it grew over 100 per cent. The company, however, did not share the absolute revenue numbers.
"In 2022, industry contribution to 5G handsets was 56 per cent as per industry analysts. But, 5G contributed 61 per cent to Samsung. We expect the value contribution to go up to 75 per cent in 2023," Samsung India Sr VP (Mobile Business) Raju Pullan said at the launch of the S23 model.
Samsung said its premium segment considering handsets costing above Rs 30,000 expanded by 75 per cent during 2022 against 34 per cent by the industry.
The Korean electronic major said it was manufacturing its new premium handsets in India.
"We are using 12 critical components in the S23 model from recycled materials towards our sustainable journey," Pullan said.
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He did not give any reaction to the recent budget announcement of a cut in customs duty on the import of certain inputs for mobile phone manufacturing.
Meanwhile, In the last 24 hours, the company received pre-bookings worth Rs 1400 crore for its latest S23 model.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)