Samsung India Increases Mobile Phone Revenue by 27% YoY
India has become an important market for a number of major smartphone OEMs these last few years. It can be difficult to compete in India for a number of reasons, but the steps that Samsung has been taking lately seem to be paying off. A new report shows that Samsung India’s mobile smartphone division was able to increase its revenue to just over Rs 34,000 crore ($5.3 billion) for the year ending on March 2017.
Samsung may be the global smartphone manufacturing leader, but they’ve had some difficulties expanding into certain markets around the world. It was recently revealed that they weren’t even in the top 5 when it comes to China and they have struggled in India in the past as well. Since they started to focus on India’s smartphone market more seriously though, they have been able to make a lot of progress thanks to initiatives including local manufacturing and expansion of its retail channels.
So during the company’s fiscal year ending on March of 2017, Samsung was able to increase their overall revenue from its smartphone division to Rs 34,000 crore ($5.3 billion). This is a 27% increase when compared to what they were able to bring in last year. This equated to mobile revenue accounting for 60% of its overall business, and the company says this could have been even higher if the Galaxy Note 7 had been launched in the country.
The company’s market share within India between January and March of this year was pegged at 26% but has since been increased to 28% by the end of September. As well as Samsung has been able to improve things within the country though, it actually pales in comparison to the progress Xiaomi has had lately. Xiaomi started off the year at 13% of the smartphone market within India and has since expanded it to 22.3%. It will definitely be interesting to see if they are able to continue this growth as we head into the new year.
Source: The Economic Times