Samsung India Business: Samsung comes close to this record in India, leaving behind many big companies

Samsung India Business: Samsung comes close to this record in India, leaving behind many big companies

South Korean company Samsung is counted among the largest companies in the world. Samsung products are very much liked in India. From smartphones to consumer electronics, Samsung has a significant share in the Indian market. Now the South Korean company has come close to creating a new record in the Indian market.

The milestone achieved in 27 years

An ET report states that Samsung Electronics Co. Will soon achieve the level of annual revenue of Rs 1 lakh crore. If this happens, then Samsung’s name will also be included among the very few companies which have sales of more than Rs 1 lakh crore in the Indian market in a year. Samsung had started in the Indian market about 27 years ago.

Just this far behind Rs 1 lakh crore

ET report quoted the filing made with the Registrar of Companies. That is, the annual revenue of Samsung Electronics Company Limited was Rs 98,924 crore in 2022-23. This is just about Rs 1000 crore less than the figure of Rs 1 lakh crore. According to the data, Samsung has already crossed the sales figures of big companies like Hindustan Unilever and ITC in India. In the last financial year, Samsung’s sales were 65 percent more than Hindustan Unilever and 35 percent more than ITC.

Sales increased, but profits declined

Samsung India This figure of total sales is 16 percent more than the year before i.e. financial year 2021-22. However, during this period, the company’s profit came down to Rs 3,452 crore from Rs 3,844 crore a year ago.

So much sales from phone business alone

Samsung has the highest sales in the Indian market. Profit is being made from smartphone business. During the last financial year, Samsung achieved revenue of Rs 70,292 crore from the phone business in the Indian market. The sales of the phone business alone have surpassed the combined sales of ITC and Hindustan Unilever. During the last financial year, the total sales of ITC were Rs 70,251 crore and the total sales of Hindustan Unilever were Rs 59,144 crore.

This business is at second place

Samsung’s sales in India are now The share of mobile business has increased from 67 percent to 71 percent. In second place is the home appliances business, in which the company’s sales increased by 18 percent to Rs 11,844 crore as compared to a year ago.

Also read: Is there any problem in using net banking? Due to this, SBI’s banking services were down, take these measures from now on.

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