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Samsung Launches New AI-Powered Washing Machines, Aims to Dominate Premium Market

Artificial Intelligence

Business Honor
28 August, 2024

Tech Giant Samsung Sets Sights on Becoming Market Leader in India's Premium Segment

Samsung India has launched a new range of AI-powered washing machines, aiming to secure its position as a leader in the premium segment of the market. The company, currently holding about 20% of the washing machine market, is focused on gaining market share quarter by quarter, outpacing industry growth.

Saurabh Baishakhia, Senior Director of Digital Appliances at Samsung India, emphasized that the brand's strategy revolves around capitalizing on the ongoing trend of premiumization in the appliance sector. Samsung is banking on the upcoming festive season and attractive financing options to make high-end washing machines more accessible to consumers, helping the brand strengthen its market position.

Samsung's focus is on the front-load washing machine segment, particularly models with a load capacity of 9 kg and above. These models are witnessing a growth rate of 50%, driven by a growing consumer preference for larger, more efficient appliances. The company is responding to a shift in consumer behavior, where customers are increasingly opting for upgrades and replacements with higher-capacity machines.

Currently, LG Electronics leads the Indian washing machine market with over 35% share, but Samsung is determined to challenge this dominance. With its new AI-powered offerings and strategic focus on high-capacity models, Samsung is positioning itself to become a major player in the premium washing machine segment in the near future.