Apple, Samsung and Google cut price of premium phones ahead of OnePlus 7 launch in India
Ahead of the much-awaited launch of OnePlus 7 series in India on May 14, global technology firms including Apple, Samsung and Google have decided to cut the prices of their premium smartphones in the country, thereby showing a cut-throat competition in the premium segment, according to an IANS report, which added that Apple iPhone XR price has been reduced by up to Rs 23,000.
Hanish Bhatia, Senior Analyst, Devices and Ecosystem, Counterpoint Research, told IANS, "Global OEMs (original equipment manufacturers) are now looking at India more seriously when it comes to the premium smartphone segment," adding "Price cuts are a part of the pricing strategy to trim down the huge price gap between competitor offerings." Image source: Reuters
According to the market research firm International Data Corporation (IDC), India's smartphone market is the world's second biggest after China, but the premium segment, smartphones above Rs 35,000, constituted merely three per cent of this market that shipped 142.3 million units in 2018. Although this smaller market is less crowded than the budget segment, it does not mean the competition is less intense. Image source: Reuters
The trend is followed by South Korean tech giant Samsung, which surpassed OnePlus to become the premium segment`s number one player in the first quarter of 2019, has also decided to slash prices for its Galaxy S10 line, according to Counterpoint Research. Notably, Galaxy S10 line now starts at Rs 46,900, due to to cashbacks of up to Rs 11,000, Samsung announced last week. Image source: Reuters
Talking about discounts, Bhatia told IANS, "In case of Samsung, the discount trend on S10 series is similar to last year, when it launched discount offers for S9 series. However, Apple is pushing its low-end flagship iPhone XR, keeping it marginally above Samsung Galaxy S10 range." Image source: Reuters
Notably, the base variant of OnePlus 6 was launched last year at Rs 34,999, while Google Pixel 3 price came down up to Rs 56,880 from a starting price of Rs 71,000 when the former was launched last year. Bhatia was quoted as saying, "Ultimately, consumers will have an option to choose among three premium brands at an additional delta cost of 10-15k for each brand -- OnePlus, Samsung and Apple. Meanwhile, Huawei and Google are also making attempts to penetrate the premium market." Image source: Reuters