Samsung Second-Largest Consumer Products Company In India

BANGALORE: Recently Samsung has overtaken India’s second-largest consumer-facing products company ITC and now looks set to better Maruti this fiscal to take the top slot. According to the industry estimates, half of Samsung India's revenues came from 'made in India' products. The consumer electronics and smartphone maker reported revenues of 40,392 crore from its India operations for 2013-14, 45 percent higher than the previous year, according to latest filings with the Registrar of Companies, reports Economic Times.

The revenue of Tobacco-to-FMCG conglomerate ITC’s total income for last fiscal stood at 34,345.74 crore while carmaker Maruti Suzuki had reported revenues of 44,523.53 crore. Samsung India management seems to be confident about overtaking Maruti Suzuki in sales this fiscal, with its sales, driven by mobile phones, continuing to grow in double digits even as the car market is struggling, industry insiders said.

"A couple of months of poor sales will not have any immediate impact on Samsung and the company is confident to become the country's largest consumer-facing firm and MNC this fiscal, more so since the automobile sector is still grappling with poor sales," said one of the top trade partners of Samsung India.

RC Bhargava, chairman at Maruti Suzuki, recently told Reuters that the carmaker's growth this fiscal will average out at about 10 percent due to poor sales. Samsung, too, faced slower offtake of smartphones in the April-August period, but sales picked up from September and grew in double digits in the just-concluded festive season, two top trade partners of the company told ET. Samsung India declined to comment on the company's financials.

The smartphone business has been a game changer for Samsung India, helping the company growsales upwards of 40 percent a year in last two fiscals. A Samsung India spokesman said the company is committed to India and will continue to focus on product and service innovation with more than 180 million consumers in the country. As per estimates, the mobility business, comprising mobile phones and tablets, accounts for almost 70 percent of its revenue.