Buoyed by a healthy 40% revenue growth from the mobile phone segment in value terms during the recent festive season, South Korean electronics giant Samsung expects to garner a record turnover from its mobile business in India this year. “If you look at 2016, it was a record year for us. For 2017, which we are in the middle of the fourth quarter of, is growing very well over last year. We should turn it into the best year yet again for our operations in India,” said Asim Warsi, Samsung India’s senior vice president, Mobile Business.
Samsung India had reported revenues of about ₹47,000 crore in 2015-16, a growth of 19% over the previous year. The handset business accounts for about 65% of the Indian revenues of the company, which also sells televisions, refrigerators and washing machines.
“The festive season has been really good for us and we have seen 40% growth in the festive season (in value terms) over last year,” he said. Asked about the Indian mobile phone market, Mr. Warsi said, “India is a very large market, and is growing at a very healthy rate. Considering it’s the second largest market in the world, the fact that it continues to offer double-digit growth rates is a great position to be in.” He added that India was a pyramidical market, given the very diverse income and occupation spread.
ADVERTISEMENT
Diverse market
“There is a very large diversity in the market... and we are a full range player. If you look at our past, present and visible future for us, we will continue being a full range player.”