Samsung India clocks revenue of Rs 57,000 crores

Samsung India’s overall revenue clocked at Rs 57,000 crores. Through the sale of mobile phones stood at Rs 34,000 crore in 2016-17, a growth of 26% over the Rs 27,000 crore realised in the previous fiscal. 

According to numbers filed by the company with the Registrar of Companies (RoC), Samsung’s mobile handset revenue moved up in the market despite a setback as the company had to hold back the launch of the Note 7 premium flagship around October last year after repeated incidents of fire.

“Samsung continues to be India’s smartphone leader by a fair distance. We are growing across segments – premium, mid-segment and affordable,” Asim Warsi, Vice President at Samsung India, said.

Despite growing competition, Samsung’s revenues in India dwarfs rivals by the sheer size of its sales. Apple’s revenues in the period are estimated at close to Rs 12,000 crore while Chinese Xiaomi realized $1 billion (Rs 6,400 crore as per current exchange rate) in the calendar year 2016.

With mobile phones accounting for about 60% of the overall business, Samsung’s revenue from India for FY17 worked out to be about Rs 57,000 crore, a 20% increase and marginally ahead of the 19% growth of Rs 47,000 crore in 2015-16.

The Korean electronics giant has been leading the mobile phone market in India for years, though it has seen competition catch up aggressively in this financial year. Xiaomi is estimated, by some market analysts, to be closing in on Samsung in terms of volume sales, while Apple is dominating the demand in the premium category.

Warsi, however, said that not much should be read into the growing competition and rather exuded confidence that the company will maintain its top billing. “We will sustain and consolidate our leadership in the smartphone industry,”

Samsung’s phone portfolio in India straddles from feature phones that are priced as low as Rs 1,200 and goes up to the flagship Note 8 which costs Rs 68,000. The largest-selling model range for the company remains the J Series which is priced between Rs 10,000 and Rs 20,000.

Courtesy- TOI