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Friday, Dec 13, 2019

Samsung hits record $10 billion revenue milestone in India

Samsung India posted a 20 per cent jump in revenue in FY19, doubling its growth rate of 10 per cent achieved during FY18

tech Updated: Dec 02, 2019 17:51 IST
Indo Asian News Service
Indo Asian News Service
New Delhi
Samsung India’s smartphone division contributed a major chunk to the overall revenues
Samsung India’s smartphone division contributed a major chunk to the overall revenues(REUTERS)
         

Samsung India has become the first smartphone and consumer electronics company to achieve $10 billion in revenues in the country, according to the latest regulatory filings made to Registrar of Companies (RoC). The milestone comes at a time when Samsung is heading into its 25th year of operations in India.

The South Korean technology giant, also the world’s biggest maker of smartphones, reported a revenue of Rs 73,086 crore in 2018-19 on the back of solid performance across its smartphones and consumer durable divisions, according to RoC data.

Samsung India posted a 20 per cent jump in revenue in FY19, doubling its growth rate of 10 per cent achieved during FY18. According to RoC filing, Samsung India’s revenue in FY18 stood at Rs 61,066 crore.

Samsung India’s smartphone division contributed a major chunk to the overall revenues, with mobile phone sales amounting to Rs 43,087 crore or nearly 60 per cent of overall revenue.

Samsung India’s TV as well as home appliances divisions also performed with double digit sales growth, according to RoC documents.

Samsung entered the Indian market in 1995 and currently operates the world’s biggest mobile manufacturing unit at its Noida facility. It has another factory in Tamil Nadu.

The South Korean giant has five R&D and one design centres in the country. Samsung is also one of the biggest employers in the country with over 70,000 employees.

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