Top 10 Indian Mobile Vendors Revealed

Samsung's Galaxy Note, a hybrid between smartphone and tablet was a trailblazer, selling 40,000 units each month since the launch in late 2011, the survey said. "As consumers look for applications beyond voice and SMS the market will see fight for high end feature phones and smart phones intensify further. Consumers can also look forward to steeper price drops and more features in the same price," Ahmad said.

Homegrown handset company Micromax ranked third on the list with revenues of 1,978 crore with a market share of 6.3 percent. Its revenues dipped 13 percent compared to the previous fiscal. BlackBerry maker Research in Motion's (RIM) revenues dropped 25 percent to 1,460 crore. With a market share of 4.7 per cent, it ranked fourth in the list.

The steepest fall was seen in the revenues of LG, which fell by 57 per cent to 780 crore in 2011-12 from 1,834 crore in 2010-11.

Taiwanese handset maker HTC, on the other hand, saw its revenues more than doubling to 923 crore in 2011-12 from 450 crore. Its market share stood at three percent.

Other key players in the Top 10 list include Spice (790 crore), Huawei (760 crore) and G'Five (670 crore). It surveyed over 30 mobile handset firms -- both multi- national and Indian -- selling feature phones, multimedia phones, enterprise phones and smartphones in India.