Samsung has reportedly set its sights on overhauling Apple’s dominant premium smartphone position in 2022 with a new ‘TIGER’ strategy.
According to The Korea Herald, 40 Samsung executives gathered in Las Vegas ahead of CES 2022 to discuss the company’s 2022 strategy for the US region. The answer it came up with is to be more TIGER.
The use of capitalisation in ‘TIGER’ is our own, because it’s actually an acronym.
The company apparently plans to be “True No. 1 in all product categories,” “Improve flagship market share,” and narrow the “Gap between Apple,” before “Expanding” its reach with products such as wireless earphones, culminating in a “Record year”.
According to Roh Tae-moon, Samsung’s head of mobile experience (MX), the company wishes to “shift from a smartphone vendor to an intelligent device company,” and to become “a brand beloved by young generations”.
In order to do so, the company is aiming for the number one spot in all product categories, with a particular emphasis on increasing market share in the premium $600+ category. It’s also going to be pushing extra hard to convert all those US iPhone users to Galaxy smartphone users.
As the report points out, this renewed premium push from Samsung could very well be a response to its loss of ground in the cheap phone market. Numerous Chinese brands have outflanked and undercut the company in the Chinese and Indian markets, which are the two largest smartphone markets in the world.
However, the company is doing better than ever in North America and Europe, which tend to go for more premium handsets. The success of the Samsung Galaxy Z Fold 3 and the Samsung Galaxy Z Flip 3 have provided considerable encouragement to act more tigerishly in 2022.