Samsung is exiting the feature phone market in India in order to focus on smartphones priced at $15,000 and up.

Samsung, the world's largest smartphone manufacturer and a dominant player in the Indian smartphone industry, plans to phase out the high-volume, low-value feature phone sector in India over time.

According to a fresh story from Economic Times, the last batch of Samsung feature phones for the Indian market would be made by its partner Dixon by the end of this year, citing sources familiar with the situation.

Samsung is one of two large multinational corporations (MNCs) that contribute to the Indian government's Production-Linked Incentive (PLI) programme. According to the article, the corporation is only allowed to receive sops if it produces devices valued more than $15,000 factor price.

In India, the South Korean behemoth will abandon the low-cost feature phone market in favour of mid-range, upper or premium mid-range, and premium smartphones. It is primarily aimed at gadgets that cost $15,000 ($193) or more.

Shipments of feature phones in India fell by 39% year over year in the first quarter of this year. Multiple factors contributed to this, including supply chain challenges and low demand as a result of high retail inflation.

Samsung used to be the market leader in the feature phone class in India, but it now ranks third with a 12 percent market share. Itel now holds a 21 percent market share, while Lava is in second place with a 20 percent market share.