- Samsung, this year, had introduced a new strategy of launching online specific smartphones here
- Despite the increase in revenue figures, Samsung’s net profit declined 58 per cent
Samsung Electronics made Rs 73,085.9 crore revenue from the Indian markets during financial year 2019 (FY19). These figures represent a jump of over 19 per cent in its yearly revenue earning figures in comparison to financial year 2018. These figures have been filed by the Korea-based consumer electronics and technology giant with the Registrar of Companies in here.
Interestingly, despite the increase in revenue figures, Samsung’s net profit figures fell by 58 per cent. When compared to net profit figures of more than Rs 3717 crores in FY 2018, Samsung’s net profit in FY 2019, was a margin above the Rs 1540 crore mark.
It is to be noted here that Samsung has been focusing on a lot of work around the emerging technologies like AI, IOT and ML here. As a matter of fact, Samsung has invested $13.1 billion in R&D during January to September 2019.
Samsung’s televisions sales grew by 11 per cent
The RoC report filed by Samsung notes that it was able to strengthen its market presence in television market. Compared to Rs 4512.8 crore revenue from TV retails in FY 2018, Samsung was able to generate revenues of Rs 5015.7 crore in FY 2019.
Samsung was also able to register around 10 per cent growth in business verticals including air-conditioners, refrigerators, home appliances and washing machines. The total revenue that the company generated through these verticals stood at Rs 7408.2 crore.
Launching smartphone for the online channel strategy
This year has seen a lot of smartphone company’s revisiting their overall strategies and expanding in the channels they were less associated to during the last year. Samsung also joined this list by launching smartphones for sale only through the online channel in the beginning of this year.
Xiaomi, another player in the smartphone vertical, expanded heavily in the offline space. The company was earlier seen as an online heavy brand in the country. A recent report by Channelplay had noted that Xiaomi was bigger than Samsung in terms of number of exclusive offline retail shops in India.