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Profiles - September 11, 2018

Samsung opens its biggest store worldwide in India

Samsung Electronics Co Ltd has today opened its biggest store in the world in India as part of their plans to maintain their position as the world’s second-biggest smartphone manufacturer amid fierce competition from Chinese brands and Apple.

The store, which is, roughly about 33,000 square foot (3,000 square meters) is located in the southern tech hub of Bengaluru and this will help Samsung extend its lead over global rival Apple Inc., which has yet to open any flagship stores in the country. The store will also feature Samsung mobile devices but also showcase its consumer electronics products and latest innovations. It will also house a service centre for phones.

India, which boasts more than a billion wireless connections, presents a lucrative opportunity for smartphone makers to expand beyond China and the United States where growth has slowed.

“India is an extremely important market,” Mohandeep Singh, senior vice-president, mobile business at Samsung India told Reuters, adding that the company plans to open more such stores in some of India’s top 10 cities.

“These stores … will really help us further consolidate our share as we move forward,” Singh said.

Samsung has spent “huge” money to lease out the property, Singh said, declining to give specifics.

Samsung also wants to develop the centre as a meeting point for startups and venture capitalists, Singh added.

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