Samsung India Electronics has seen its revenues during the last financial year cross the USD 10 billion mark, according to filings made with the Registrar of Companies. However, its profits have shrunk by over half compared to the previous year at Rs 1,540.5 crore compared to Rs 3,712.8 crore in FY18.
Filings show that its total income rose 20 per cent to Rs 73,085.9 crore in FY19 from Rs 61,065.6 crore in the previous fiscal. The electronics giant’s revenue from operations rose at 19 per cent to Rs 70,627.7 crore from just Rs 59,370.9 crore the previous fiscal.
A perusal of the financials filed show that over 60 per cent of the revenue from operations for the South Korean conglomerate came from mobile phones bringing in a whopping Rs 43,087.98 crore. The audio visual segment, including television and cameras, and the home appliances category meanwhile accounted for Rs 5,015.7 crore and Rs 7,408.2 crore respectively.
Samsung had a significant presence in Indian for several years, but has been facing intense competition in recent times in the mobile phone category from the likes of Xiaomi in the mass segment and OnePlus in the premium segment. Earlier this year, Samsung had said it was confident of clocking double-digit growth in the hyper-competitive Indian smartphone market.
Data from research firm IDC shows Xiaomi led the Indian smartphone market in July-September this year with a 27.1 per cent market share, followed by Samsung (18.9 per cent), Vivo (15.2 per cent), Realme (14.3 per cent) and Oppo (11.8 per cent).