Samsung India aims to sell M-series smartphones worth $1 billion this year

Ra-hee received 83 million shares in Samsung Electronics in inheritance. It makes her the largest shareholder in the group with a total share of 2.3 percent.

Electronics major Samsung India is targeting to sell Galaxy M-series smartphones worth USD 1 billion this year, a senior company official said on Thursday.

Samsung India senior director and head of product marketing Aditya Babbar told PTI that the first half of the year has been very good for the company, with over 20% year-on-year growth in value terms.

"We have 42 million happy M-Series consumers since 2019. We have very aggressive plans for the year. We have set ourselves a target of USD 1 billion this year coming from the M series," he said.

He was speaking on the sidelines of launching two new M-series smartphones - Galaxy M13 and Galaxy M13 5G.

The M13 5G with 6GB internal memory and 128 GB external memory is priced at Rs 15,999, while the other model with 4GB internal memory and 64 GB external memory will be tagged at Rs 13,999 apiece.

The external storage in the M13 series smartphones can be extended up to 1 terabyte (TB).

The company has priced the two variants of Galaxy M13 at Rs 13,999 and Rs 11,999.

Samsung's overall value market share between January to May 2022 grew to 22.6% from 20% recorded in the same period a year ago, according to Counterpoint Research.

Samsung market share for smartphones priced in the range of Rs 10,000 to Rs 40,000 per unit has reached 26.9% from 21.4% during the year-ago period, as per Counterpoint.