Korean tech giant bullish on growth outlook in Phl

The Philippine unit of South Korean tech giant Samsung Electronics Co. Ltd. still expects strong growth in sales of its digital appliances despite the entry of cheaper Chinese brands in the market.

Angelo Visaya, product manager for television at Samsung Philippines, believes Filipino consumers still want to be affiliated with brands that are known.

"That (mindset) is affecting our strong growth even with the entry of cheaper Chinese brands," Visaya said in an interview at the sidelines of a company event in Cebu City yesterday.

Visaya said the South Korean firm has always invested on innovation to maintain its market share in various product segments.

In the television segment, the official claimed the electronics giant has a 45% market share in the Philippines. "In TV, we are doing well. Our sales have been on record-level," he said.

Visaya explained the country's improving economic conditions are sustaining the demand for electronic products.

Isobelle Tan, another product manager at the company, also said more and more Filipinos are owning their dream houses and that they want to complement them with electronic products that improve their lifestyle.

Officials said the preference of Filipino buyers for appliances has been changing.

Yesterday, the company held a road show in a Cebu City mall featuring its new products, including television, entertainment solutions and digital appliances.

In addition, in the smartphone market, Samsung remained the leader worldwide as of July this year, according to International Data Corp. (IDC).

But IDC had said the tech giant continued to experience stiff competition from Apple's iPhone and cheaper Chinese rivals such as Xiaomi, Huawei and ZTE, among others.