Quality is replacing quantity in Latvia's smart-phone market - Samsung

RIGA - With buyers purchasing a smaller number, but more expensive devices, quality is replacing quality in the smart-phone market in Latvia and the other Baltic countries, Samsung telecommunications department head in the Baltics Jurijs Busmaks told LETA.

Busmaks said that the market used to be driven by an annual increase in the number of smart-phone being sold, but the market has become saturated and the number of smart-phones sold has reduced or remained unchanged.

''The market's growth is ensured by the desire consumers have in purchasing higher quality and more expensive devices. Despite the economic situation, half of the market share is made up of devices which cost the consumer over EUR 400,'' Busmaks revealed.

He said that the trend has been observed in Latvia, Lithuania and Estonia.

Samsung Electronics Baltija is the subsidiary of the South Korean electronics company in Latvia. In 2016, the company achieved EUR 281.01 million in turnover and EUR 5.308 million in profit.